New York State Teachers Retirement System Boosts Position in InterDigital, Inc. (NASDAQ:IDCC)

New York State Teachers Retirement System lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,543 shares of the Wireless communications provider's stock after acquiring an additional 4,737 shares during the quarter. New York State Teachers Retirement System owned 0.13% of InterDigital worth $4,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Simplicity Wealth LLC boosted its stake in shares of InterDigital by 1.5% during the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider's stock worth $665,000 after acquiring an additional 69 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in InterDigital by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider's stock valued at $536,000 after buying an additional 90 shares in the last quarter. Blue Trust Inc. boosted its holdings in InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider's stock worth $166,000 after buying an additional 101 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 worth $46,000 after buying an additional 109 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 worth $43,000 after buying an additional 124 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares of the company's stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of the business'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 completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 5,205 shares of company stock worth $716,218 in the last quarter. Company insiders own 2.30% of the company's stock.

InterDigital Price Performance

Shares of InterDigital stock traded up $8.45 on Wednesday, hitting $177.29. 426,896 shares of the company were exchanged, compared to its average volume of 460,771. InterDigital, Inc. has a 1-year low of $84.41 and a 1-year high of $178.72. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.38. The company has a 50-day moving average price of $144.15 and a 200 day moving average price of $127.49.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.45 dividend. The ex-dividend date was Wednesday, October 9th. This is an increase from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.02%. InterDigital's dividend payout ratio (DPR) is 19.23%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Roth Mkm lifted their price target on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Monday.

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.