Victory Capital Management Inc. Lowers Position in InterDigital, Inc. (NASDAQ:IDCC)

Victory Capital Management Inc. cut its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,237 shares of the Wireless communications provider's stock after selling 1,209 shares during the period. Victory Capital Management Inc. owned 0.06% of InterDigital worth $2,758,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its position in InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock valued at $26,000 after purchasing an additional 111 shares during the period. Mendota Financial Group LLC lifted its position in shares of InterDigital by 14,500.0% during the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock worth $57,000 after purchasing an additional 290 shares during the last quarter. R Squared Ltd purchased a new stake in InterDigital during the 4th quarter worth about $70,000. Smartleaf Asset Management LLC lifted its stake in InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider's stock worth $121,000 after purchasing an additional 511 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of InterDigital by 1,209.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider's stock valued at $129,000 after buying an additional 617 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 1,781 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total transaction of $388,258.00. Following the completion of the sale, the insider now directly owns 24,395 shares of the company's stock, valued at $5,318,110. This represents a 6.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the insider now directly owns 30,537 shares of the company's stock, valued at $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,024 shares of company stock worth $3,916,280 in the last 90 days. Company insiders own 2.30% of the company's stock.

InterDigital Stock Performance

Shares of IDCC stock traded down $1.43 during mid-day trading on Thursday, hitting $219.42. 188,321 shares of the stock were exchanged, compared to its average volume of 411,306. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.57 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $231.97. The stock's fifty day simple moving average is $198.76 and its two-hundred day simple moving average is $178.64.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.60 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, April 9th. InterDigital's dividend payout ratio 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.