Intech Investment Management LLC Buys 68,251 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Intech Investment Management LLC increased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 229.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,979 shares of the Wireless communications provider’s stock after buying an additional 68,251 shares during the period. Intech Investment Management LLC’s holdings in InterDigital were worth $18,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after buying an additional 111 shares during the last quarter. Mendota Financial Group LLC raised its stake in shares of InterDigital by 14,500.0% during the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock worth $57,000 after buying an additional 290 shares during the last quarter. R Squared Ltd bought a new stake in shares of InterDigital during the fourth quarter worth approximately $70,000. Smartleaf Asset Management LLC raised its stake in shares of InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock worth $121,000 after buying an additional 511 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake in shares of InterDigital by 22.9% during the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 168 shares during the last quarter. 99.83% of the stock is owned by institutional investors.

Insider Buying and Selling at InterDigital

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the transaction, the chief executive officer now owns 164,543 shares in the company, valued at $32,141,829.62. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total transaction of $129,500.00. Following the completion of the transaction, the chief technology officer now owns 52,396 shares of the company’s stock, valued at $9,693,260. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,134 shares of company stock valued at $4,678,770. Corporate insiders own 2.30% of the company’s stock.

InterDigital Stock Up 1.2 %

Shares of NASDAQ:IDCC opened at $219.63 on Tuesday. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week 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. The company has a market capitalization of $5.64 billion, a PE ratio of 18.24, a PEG ratio of 1.57 and a beta of 1.45. The company has a 50 day moving average price of $197.52 and a two-hundred day moving average price of $177.77.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio is presently 19.93%.

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.