Louisiana State Employees Retirement System Has $2.38 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

Louisiana State Employees Retirement System increased its position in InterDigital, Inc. (NASDAQ:IDCC) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,300 shares of the Wireless communications provider’s stock after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in InterDigital were worth $2,383,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IDCC. Natixis Advisors LLC acquired a new position in shares of InterDigital during the third quarter valued at about $1,427,000. Flagship Harbor Advisors LLC acquired a new position in InterDigital during the 4th quarter valued at about $338,000. Reinhart Partners LLC. increased its holdings in InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after purchasing an additional 164,223 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of InterDigital in the third quarter worth approximately $380,000. Finally, Olympiad Research LP bought a new position in shares of InterDigital in the third quarter valued at approximately $475,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the sale, the chief executive officer now owns 158,652 shares of the company’s stock, valued at approximately $30,004,266.24. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction on Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,322 shares of company stock valued at $2,562,751. Insiders own 2.30% of the company’s stock.

InterDigital Trading Down 0.3 %

NASDAQ:IDCC opened at $214.29 on Friday. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $216.00. The firm has a 50-day moving average price of $190.07 and a two-hundred day moving average price of $165.97. 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 firm has a market cap of $5.43 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44.

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 dividend of $0.60 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is 14.95%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Company 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.