Mesirow Financial Investment Management Inc. Acquires Shares of 2,094 InterDigital, Inc. (NASDAQ:IDCC)

Mesirow Financial Investment Management Inc. purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,094 shares of the Wireless communications provider's stock, valued at approximately $406,000.

Several other hedge funds also recently made changes to their positions in the business. One Wealth Advisors LLC raised its holdings in InterDigital by 1.8% during the fourth quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider's stock worth $697,000 after acquiring an additional 64 shares in the last quarter. Savant Capital LLC raised its stake in shares of InterDigital by 2.8% during the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider's stock worth $461,000 after purchasing an additional 64 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of InterDigital by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider's stock valued at $1,965,000 after buying an additional 68 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of InterDigital by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider's stock valued at $2,383,000 after buying an additional 100 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock worth $26,000 after buying an additional 111 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

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InterDigital Stock Performance

IDCC stock traded down $0.11 during trading hours on Wednesday, reaching $212.48. The stock had a trading volume of 341,598 shares, compared to its average volume of 388,864. The stock has a market capitalization of $5.46 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. The stock has a 50-day simple moving average of $196.27 and a 200 day simple moving average of $175.54. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $231.96. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders 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 1.13%. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. InterDigital's payout ratio is 19.93%.

Insider Buying and Selling at InterDigital

In related news, CFO Richard Brezski sold 9,602 shares of the 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 sale, the chief financial officer now owns 102,555 shares in the company, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the transaction, the chief executive officer now directly owns 164,543 shares of the company's stock, valued at approximately $32,141,829.62. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,134 shares of company stock worth $4,678,770 over the last 90 days. Company insiders own 2.30% of the company's stock.

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.