Reinhart Partners LLC. Acquires 164,223 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Reinhart Partners LLC. increased its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 83.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 360,238 shares of the Wireless communications provider's stock after purchasing an additional 164,223 shares during the quarter. InterDigital makes up 2.7% of Reinhart Partners LLC.'s holdings, making the stock its 14th largest position. Reinhart Partners LLC. owned about 1.42% of InterDigital worth $69,785,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of InterDigital by 10.3% in the second quarter. Victory Capital Management Inc. now owns 27,757 shares of the Wireless communications provider's stock valued at $3,235,000 after purchasing an additional 2,595 shares during the last quarter. Choreo LLC bought a new position in InterDigital in the 2nd quarter valued at about $214,000. Texas Permanent School Fund Corp raised its holdings in InterDigital by 2.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 23,154 shares of the Wireless communications provider's stock valued at $2,699,000 after acquiring an additional 659 shares during the period. BOKF NA lifted its position in InterDigital by 78.8% during the second quarter. BOKF NA now owns 5,272 shares of the Wireless communications provider's stock worth $615,000 after acquiring an additional 2,323 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of InterDigital by 71.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,258 shares of the Wireless communications provider's stock worth $493,000 after acquiring an additional 1,779 shares during the period. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the sale, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. The trade was a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,622 shares of company stock valued at $2,433,251. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.

InterDigital Price Performance

NASDAQ:IDCC traded down $5.44 during trading hours on Monday, reaching $179.83. 360,756 shares of the company were exchanged, compared to its average volume of 415,251. The company has a market capitalization of $4.56 billion, a P/E ratio of 19.21, a P/E/G ratio of 0.95 and a beta of 1.44. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $207.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The business has a 50 day moving average of $190.68 and a 200 day moving average of $155.42.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.00%. InterDigital's payout ratio 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.