Geode Capital Management LLC Boosts Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Geode Capital Management LLC raised its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 0.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 592,754 shares of the Wireless communications provider's stock after acquiring an additional 3,975 shares during the quarter. Geode Capital Management LLC owned approximately 2.34% of InterDigital worth $83,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IDCC. Captrust Financial Advisors lifted its stake in shares of InterDigital by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider's stock worth $1,965,000 after purchasing an additional 68 shares during the period. Simplicity Wealth LLC raised its position in InterDigital by 1.5% in the third 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 period. Miller Howard Investments Inc. NY boosted its stake in shares of InterDigital by 2.0% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider's stock worth $536,000 after acquiring an additional 90 shares during the last quarter. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 101 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after purchasing an additional 109 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IDCC. Roth Mkm lifted 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 downgraded InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.

InterDigital Price Performance

InterDigital stock traded up $0.46 during mid-day trading on Friday, hitting $189.43. The stock had a trading volume of 1,430,415 shares, compared to its average volume of 449,614. InterDigital, Inc. has a one year low of $95.33 and a one year high of $203.90. 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 capitalization of $4.80 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.81 and a beta of 1.44. The firm's 50 day moving average is $177.46 and its 200 day moving average is $145.93.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital's dividend payout ratio is currently 19.23%.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the firm's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company's stock, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joshua D. Schmidt sold 140 shares of the business's stock in a transaction on 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 owns 24,138 shares in the company, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,731 shares of company stock valued at $1,276,201. 2.30% of the stock is owned by company insiders.

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.