3,321 Shares in InterDigital, Inc. (NASDAQ:IDCC) Purchased by Kennondale Capital Management LLC

Kennondale Capital Management LLC bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,321 shares of the Wireless communications provider's stock, valued at approximately $643,000.

Other institutional investors have also modified their holdings of the company. Natixis Advisors LLC purchased a new position in InterDigital in the 3rd quarter valued at $1,427,000. Flagship Harbor Advisors LLC purchased a new position in InterDigital in the 4th quarter valued at $338,000. Kovitz Investment Group Partners LLC purchased a new position in InterDigital in the 3rd quarter valued at $380,000. Reinhart Partners LLC. grew its position in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after buying an additional 164,223 shares during the last quarter. Finally, J2 Capital Management Inc purchased a new position in InterDigital in the 4th quarter valued at $477,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total transaction of $142,891.00. Following the sale, the chief technology officer now directly owns 52,997 shares in the company, valued at approximately $10,818,277.61. The trade was a 1.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the sale, the chief executive officer now owns 158,652 shares in the company, valued at $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,724 shares of company stock worth $4,068,936. Corporate insiders own 2.30% of the company's stock.

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InterDigital Stock Performance

NASDAQ:IDCC traded down $1.79 during midday trading on Friday, reaching $217.35. The stock had a trading volume of 1,269,862 shares, compared to its average volume of 414,134. The firm has a fifty day simple moving average of $199.97 and a two-hundred day simple moving average of $179.46. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $231.97. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market cap of $5.58 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.57 and a beta of 1.45.

InterDigital Increases Dividend

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