Versor Investments LP Takes Position in InterDigital, Inc. (NASDAQ:IDCC)

Versor Investments LP bought a new stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,704 shares of the Wireless communications provider's stock, valued at approximately $1,091,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDCC. Pacer Advisors Inc. raised its position in InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock valued at $86,635,000 after buying an additional 741,820 shares during the last quarter. Reinhart Partners LLC. acquired a new position in shares of InterDigital during the 3rd quarter worth approximately $27,762,000. Emerald Advisers LLC increased its position in shares of InterDigital by 127,997.9% during the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock worth $14,035,000 after purchasing an additional 120,318 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after purchasing an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in shares of InterDigital by 473.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider's stock worth $11,244,000 after purchasing an additional 79,648 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on IDCC. Roth Mkm boosted their price target on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. StockNews.com lowered InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

InterDigital Stock Performance

Shares of NASDAQ IDCC traded up $1.33 during midday trading on Tuesday, hitting $189.05. 401,790 shares of the company's stock were exchanged, compared to its average volume of 459,088. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. InterDigital, Inc. has a 12 month low of $88.08 and a 12 month high of $189.51. The company's 50 day moving average price is $147.72 and its 200 day moving average price is $129.82. The firm has a market capitalization of $4.79 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.38.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This is an increase from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, October 9th. InterDigital's payout ratio is currently 19.23%.

Insider Transactions at InterDigital

In related news, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the sale, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John A. Kritzmacher sold 2,500 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction on Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares of the company's stock, valued at $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by company insiders.

InterDigital 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.