Sei Investments Co. Boosts Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Sei Investments Co. raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 66.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,621 shares of the Wireless communications provider's stock after acquiring an additional 14,683 shares during the quarter. Sei Investments Co. owned approximately 0.14% of InterDigital worth $7,094,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of InterDigital by 18.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,799 shares of the Wireless communications provider's stock worth $963,000 after buying an additional 1,041 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of InterDigital by 0.5% during the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider's stock worth $1,965,000 after acquiring an additional 68 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of InterDigital by 404.1% during the third quarter. Verition Fund Management LLC now owns 17,937 shares of the Wireless communications provider's stock valued at $2,540,000 after acquiring an additional 14,379 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of InterDigital in the 3rd quarter valued at approximately $234,000. Finally, Wellington Management Group LLP boosted its stake in InterDigital by 6.0% in the 3rd quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider's stock worth $22,052,000 after purchasing an additional 8,824 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at InterDigital

In other news, insider Eeva K. Hakoranta sold 350 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total value of $75,078.50. Following the transaction, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 owns 71,606 shares in the company, valued at approximately $15,615,836.48. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,833 shares of company stock valued at $2,954,830 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

InterDigital Stock Performance

InterDigital stock traded down $6.76 during mid-day trading on Friday, reaching $191.31. 635,276 shares of the company traded hands, compared to its average volume of 415,604. The firm's fifty day moving average is $207.18 and its two-hundred day moving average is $185.16. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a fifty-two week low of $95.36 and a fifty-two week high of $231.97. 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. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.25%. 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%.

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.