KLP Kapitalforvaltning AS Acquires Shares of 12,000 InterDigital, Inc. (NASDAQ:IDCC)

KLP Kapitalforvaltning AS acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,000 shares of the Wireless communications provider's stock, valued at approximately $2,325,000.

Several other institutional investors have also recently added to or reduced their stakes in IDCC. Sei Investments Co. grew its holdings in InterDigital by 66.9% in the fourth quarter. Sei Investments Co. now owns 36,621 shares of the Wireless communications provider's stock valued at $7,094,000 after purchasing an additional 14,683 shares during the period. Quantbot Technologies LP grew its stake in shares of InterDigital by 1,667.4% during the 4th quarter. Quantbot Technologies LP now owns 12,973 shares of the Wireless communications provider's stock valued at $2,513,000 after buying an additional 12,239 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of InterDigital by 29.0% during the 4th quarter. Teacher Retirement System of Texas now owns 13,784 shares of the Wireless communications provider's stock worth $2,670,000 after buying an additional 3,096 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of InterDigital in the 4th quarter worth $1,535,000. Finally, Xponance Inc. boosted its holdings in InterDigital by 10.8% in the fourth quarter. Xponance Inc. now owns 1,823 shares of the Wireless communications provider's stock valued at $353,000 after acquiring an additional 178 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at InterDigital

In other news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the sale, the insider now owns 30,537 shares in the company, valued at approximately $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $218.08, for a total value of $152,656.00. Following the transaction, the chief technology officer now directly owns 71,606 shares in the company, valued at $15,615,836.48. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,833 shares of company stock worth $2,954,830. Company insiders own 2.30% of the company's stock.

InterDigital Trading Down 0.9 %

NASDAQ:IDCC traded down $1.82 on Tuesday, hitting $204.93. 321,094 shares of the stock were exchanged, compared to its average volume of 421,752. The stock has a fifty day moving average of $205.71 and a 200-day moving average of $184.16. The stock has a market cap of $5.26 billion, a PE ratio of 17.02, a PEG ratio of 1.57 and a beta of 1.45. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $231.97.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is 19.93%.

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.