InterDigital, Inc. (NASDAQ:IDCC) Position Raised by Verition Fund Management LLC

Verition Fund Management LLC boosted its holdings in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 404.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,937 shares of the Wireless communications provider's stock after purchasing an additional 14,379 shares during the period. Verition Fund Management LLC owned about 0.07% of InterDigital worth $2,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of IDCC. Captrust Financial Advisors boosted its stake in shares of InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider's stock valued at $1,965,000 after buying an additional 68 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in InterDigital by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,799 shares of the Wireless communications provider's stock valued at $963,000 after acquiring an additional 1,041 shares during the last quarter. Bridgewater Associates LP grew its holdings in InterDigital by 6.6% during the 3rd quarter. Bridgewater Associates LP now owns 22,840 shares of the Wireless communications provider's stock worth $3,235,000 after acquiring an additional 1,423 shares in the last quarter. Hancock Whitney Corp raised its stake in shares of InterDigital by 1.3% in the 3rd quarter. Hancock Whitney Corp now owns 16,496 shares of the Wireless communications provider's stock valued at $2,336,000 after purchasing an additional 209 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in InterDigital by 8.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,418 shares of the Wireless communications provider's stock worth $201,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Wall Street Analysts Forecast Growth

IDCC has been the subject of a number of research reports. Roth Mkm lifted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. StockNews.com lowered shares of InterDigital from a "buy" rating to a "hold" rating in a report on Monday, November 4th.

InterDigital Stock Performance

Shares of NASDAQ IDCC traded down $5.88 during mid-day trading on Thursday, hitting $194.71. The company had a trading volume of 223,417 shares, compared to its average volume of 449,750. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 0.84 and a beta of 1.44. The firm's 50 day simple moving average is $166.50 and its two-hundred day simple moving average is $139.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $203.90.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This is an increase from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 0.92%. InterDigital's payout ratio is 19.23%.

Insider Activity

In related news, Director John A. Kritzmacher sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 10.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 24,138 shares of the company's stock, 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 quarter, insiders sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is currently owned by company 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.