Neumeier Poma Investment Counsel LLC Has $42.12 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Neumeier Poma Investment Counsel LLC trimmed its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 22.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 217,444 shares of the Wireless communications provider's stock after selling 63,581 shares during the quarter. InterDigital makes up 4.1% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 4th largest holding. Neumeier Poma Investment Counsel LLC owned about 0.86% of InterDigital worth $42,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Congress Asset Management Co. acquired a new position in shares of InterDigital in the 4th quarter valued at about $62,583,000. Reinhart Partners LLC. increased its stake in shares of InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock worth $69,785,000 after purchasing an additional 164,223 shares during the last quarter. Boston Partners raised its holdings in shares of InterDigital by 5.5% during the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock valued at $311,654,000 after purchasing an additional 83,794 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of InterDigital by 229.6% in the 4th quarter. Intech Investment Management LLC now owns 97,979 shares of the Wireless communications provider's stock valued at $18,980,000 after purchasing an additional 68,251 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in InterDigital during the fourth quarter worth $9,040,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

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InterDigital Stock Down 1.6 %

Shares of InterDigital stock opened at $206.75 on Tuesday. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $231.97. The stock has a market capitalization of $5.31 billion, a P/E ratio of 17.17, a PEG ratio of 1.57 and a beta of 1.45. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average price of $205.04 and a two-hundred day moving average price of $183.68.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio (DPR) is 19.93%.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total transaction of $152,656.00. Following the completion of the transaction, the chief technology officer now directly owns 71,606 shares in the company, valued at $15,615,836.48. This represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard Brezski sold 9,602 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the sale, the chief financial officer now owns 102,555 shares in the company, valued at $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,833 shares of company stock worth $2,954,830 over the last ninety days. Company 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.