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

Intech Investment Management LLC boosted its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 229.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,979 shares of the Wireless communications provider's stock after buying an additional 68,251 shares during the period. Intech Investment Management LLC owned approximately 0.39% of InterDigital worth $18,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDCC. Natixis Advisors LLC bought a new position in InterDigital during the third quarter valued at approximately $1,427,000. Caprock Group LLC boosted its stake in InterDigital by 8.9% during the third quarter. Caprock Group LLC now owns 3,156 shares of the Wireless communications provider's stock valued at $447,000 after buying an additional 257 shares during the last quarter. Moran Wealth Management LLC boosted its stake in InterDigital by 37.9% during the third quarter. Moran Wealth Management LLC now owns 3,956 shares of the Wireless communications provider's stock valued at $560,000 after buying an additional 1,087 shares during the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of InterDigital by 161.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 9,140 shares of the Wireless communications provider's stock valued at $1,294,000 after purchasing an additional 5,640 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of InterDigital by 8.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,418 shares of the Wireless communications provider's stock valued at $201,000 after purchasing an additional 116 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

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Insider Activity

In related news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the transaction, the insider now owns 30,537 shares of the company's stock, valued at $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $2,066,446.42. Following the transaction, the chief financial officer now owns 102,555 shares in the company, valued at $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,724 shares of company stock valued at $4,068,936 in the last ninety days. Insiders own 2.30% of the company's stock.

InterDigital Trading Down 0.8 %

Shares of NASDAQ:IDCC traded down $1.79 during trading on Friday, hitting $217.35. The company had a trading volume of 1,269,862 shares, compared to its average volume of 414,134. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a one year low of $95.33 and a one year high of $231.97. The company has a fifty day simple moving average of $199.97 and a two-hundred day simple moving average of $179.46. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital's dividend payout ratio (DPR) is presently 19.93%.

InterDigital 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.