Allspring Global Investments Holdings LLC Buys 34,171 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC increased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 151.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,713 shares of the Wireless communications provider’s stock after acquiring an additional 34,171 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.22% of InterDigital worth $8,032,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of IDCC. Duality Advisers LP boosted its position in shares of InterDigital by 1,380.5% during the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after purchasing an additional 30,137 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in InterDigital by 118.5% in the first quarter. Edgestream Partners L.P. now owns 13,361 shares of the Wireless communications provider’s stock worth $1,422,000 after acquiring an additional 7,245 shares in the last quarter. Russell Investments Group Ltd. grew its stake in InterDigital by 294,025.0% in the first quarter. Russell Investments Group Ltd. now owns 11,765 shares of the Wireless communications provider’s stock valued at $1,253,000 after acquiring an additional 11,761 shares during the period. Hancock Whitney Corp increased its holdings in shares of InterDigital by 60.0% during the first quarter. Hancock Whitney Corp now owns 14,061 shares of the Wireless communications provider’s stock valued at $1,497,000 after acquiring an additional 5,273 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in shares of InterDigital during the first quarter worth approximately $768,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In other InterDigital 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 transaction, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Derek K. Aberle sold 2,005 shares of the business’s 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 sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,205 shares of company stock valued at $716,218. 2.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IDCC. Roth Mkm boosted their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $147.29 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.70 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.39. The stock’s fifty day simple moving average is $141.18 and its two-hundred day simple moving average is $124.35. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $157.50.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The company had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. As a group, analysts forecast that InterDigital, Inc. will post 9.06 EPS for the current fiscal year.

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 issued a $0.45 dividend. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.22%. InterDigital’s dividend payout ratio is currently 18.11%.

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.