Retirement Guys Formula LLC Acquires New Stake in InterDigital, Inc. (NASDAQ:IDCC)

Retirement Guys Formula LLC purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,260 shares of the Wireless communications provider's stock, valued at approximately $244,000.

A number of other hedge funds also recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its position in InterDigital by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider's stock worth $2,383,000 after purchasing an additional 100 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of InterDigital by 9.1% in the fourth quarter. Leavell Investment Management Inc. now owns 1,784 shares of the Wireless communications provider's stock worth $346,000 after acquiring an additional 149 shares during the last quarter. Savant Capital LLC boosted its stake in shares of InterDigital by 2.8% in the fourth quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider's stock worth $461,000 after acquiring an additional 64 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of InterDigital in the fourth quarter worth approximately $1,619,000. Finally, Apollon Wealth Management LLC boosted its stake in shares of InterDigital by 14.9% in the fourth quarter. Apollon Wealth Management LLC now owns 2,498 shares of the Wireless communications provider's stock worth $484,000 after acquiring an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

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 stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the transaction, the chief technology officer now owns 52,997 shares of the company's stock, valued at approximately $10,818,277.61. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,322 shares of company stock valued at $2,562,751. Insiders own 2.30% of the company's stock.

InterDigital Price Performance

Shares of NASDAQ:IDCC traded down $0.68 during trading on Friday, reaching $214.29. The stock had a trading volume of 411,307 shares, compared to its average volume of 357,543. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.62 and a current ratio of 1.70. The business has a fifty day moving average price of $190.07 and a 200-day moving average price of $165.97. The stock has a market cap of $5.43 billion, a PE ratio of 17.80, a PEG ratio of 2.41 and a beta of 1.44. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $216.00.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.12%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's payout ratio is 14.95%.

Analyst Ratings Changes

Separately, StockNews.com lowered InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.

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.