Allspring Global Investments Holdings LLC Acquires 34,171 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC increased its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 151.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,713 shares of the Wireless communications provider's stock after buying an additional 34,171 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of InterDigital worth $8,032,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in InterDigital in the 3rd quarter valued at approximately $26,000. 1620 Investment Advisors Inc. bought a new position in InterDigital during the second quarter worth $29,000. GAMMA Investing LLC raised its stake in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock valued at $43,000 after purchasing an additional 124 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock valued at $46,000 after purchasing an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in InterDigital in the 1st quarter worth $64,000. 99.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IDCC shares. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. StockNews.com upgraded InterDigital from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th.

InterDigital Price Performance

NASDAQ IDCC traded down $0.06 on Friday, reaching $147.29. The company's stock had a trading volume of 327,536 shares, compared to its average volume of 379,343. InterDigital, Inc. has a 52 week low of $74.65 and a 52 week high of $157.50. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.70 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.39. The business has a 50-day moving average price of $141.18 and a 200 day moving average price of $124.54.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The company had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. Sell-side analysts expect that InterDigital, Inc. will post 9.06 EPS for the current year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This is a boost from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.22%. InterDigital's dividend payout ratio (DPR) is presently 18.11%.

Insider Activity

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now directly owns 7,639 shares of the company's stock, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Derek K. Aberle sold 2,005 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Kritzmacher sold 2,500 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,205 shares of company stock worth $716,218. Corporate insiders own 2.30% of the company's stock.

About InterDigital

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.