Sierra Summit Advisors LLC Purchases Shares of 3,009 InterDigital, Inc. (NASDAQ:IDCC)

Sierra Summit Advisors LLC bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,009 shares of the Wireless communications provider's stock, valued at approximately $583,000.

Several other large investors have also recently added to or reduced their stakes in the company. Boston Partners increased its holdings in shares of InterDigital by 5.5% in the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock valued at $311,654,000 after purchasing an additional 83,794 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in InterDigital by 3.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider's stock worth $160,441,000 after buying an additional 39,891 shares during the period. Geode Capital Management LLC increased its holdings in InterDigital by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock valued at $115,240,000 after buying an additional 1,991 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after acquiring an additional 164,223 shares during the period. Finally, Congress Asset Management Co. purchased a new stake in shares of InterDigital during the 4th quarter worth approximately $62,583,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

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InterDigital Price Performance

NASDAQ:IDCC traded down $0.62 during mid-day trading on Friday, hitting $201.93. 247,188 shares of the company's stock traded hands, compared to its average volume of 415,277. The firm's 50 day simple moving average is $209.65 and its 200 day simple moving average is $187.83. The company has a market cap of $5.19 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a 1 year low of $95.36 and a 1 year high of $231.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is 19.93%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 1,781 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total value of $388,258.00. Following the completion of the transaction, the insider now directly owns 24,395 shares in the company, valued at approximately $5,318,110. The trade was a 6.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now owns 52,396 shares in the company, valued at $9,693,260. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,833 shares of company stock worth $2,938,660. 2.30% of the stock is owned by insiders.

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.