Icon Wealth Advisors LLC Boosts Stake in InterDigital, Inc. (NASDAQ:IDCC)

Icon Wealth Advisors LLC grew its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 161.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,140 shares of the Wireless communications provider's stock after buying an additional 5,640 shares during the quarter. Icon Wealth Advisors LLC's holdings in InterDigital were worth $1,294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in InterDigital by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider's stock worth $344,370,000 after buying an additional 17,238 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of InterDigital by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider's stock worth $127,392,000 after purchasing an additional 10,532 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock valued at $86,635,000 after acquiring an additional 741,820 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in InterDigital by 28.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider's stock valued at $30,420,000 after purchasing an additional 48,137 shares during the last quarter. Finally, Reinhart Partners LLC. acquired a new stake in InterDigital during the third quarter worth about $27,762,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDCC has been the subject of several research analyst reports. Roth Mkm upped their price target on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. StockNews.com cut InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

InterDigital Trading Up 3.7 %

NASDAQ IDCC traded up $6.70 on Friday, reaching $190.12. The stock had a trading volume of 304,727 shares, compared to its average volume of 413,114. The stock has a fifty day moving average price of $156.92 and a two-hundred day moving average price of $134.80. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $191.57. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 0.78 and a beta of 1.38.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, October 9th. This is a boost from InterDigital's previous quarterly dividend of $0.40. InterDigital's dividend payout ratio (DPR) is currently 19.23%.

Insiders Place Their Bets

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now directly owns 24,138 shares of the company's stock, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now directly owns 20,279 shares of the company's stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock worth $472,253 over the last 90 days. Corporate insiders own 2.30% of the company's stock.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.