Intech Investment Management LLC Grows Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Intech Investment Management LLC lifted its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 658.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,728 shares of the Wireless communications provider's stock after buying an additional 25,810 shares during the quarter. Intech Investment Management LLC owned about 0.12% of InterDigital worth $4,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Simplicity Wealth LLC boosted its stake in InterDigital by 1.5% during the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider's stock worth $665,000 after acquiring an additional 69 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of InterDigital by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider's stock valued at $536,000 after buying an additional 90 shares during the period. Blue Trust Inc. increased its position in InterDigital by 9.4% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider's stock valued at $166,000 after purchasing an additional 101 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after buying an additional 109 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock worth $43,000 after purchasing an additional 124 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on 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 in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,340 shares of company stock worth $472,253. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

InterDigital Stock Performance

IDCC stock traded up $6.70 during trading on Friday, reaching $190.12. The stock had a trading volume of 304,727 shares, compared to its average volume of 413,114. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $191.57. The stock's 50 day moving average is $156.92 and its two-hundred day moving average is $134.60. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.82 billion, a PE ratio of 20.31, a PEG ratio of 0.78 and a beta of 1.38.

InterDigital Increases Dividend

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

InterDigital Company Profile

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.