InterDigital, Inc. (NASDAQ:IDCC) Stock Position Cut by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in InterDigital, Inc. (NASDAQ:IDCC) by 7.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,090 shares of the Wireless communications provider’s stock after selling 2,453 shares during the period. New York State Teachers Retirement System owned 0.12% of InterDigital worth $5,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IDCC. CWM LLC grew its position in InterDigital by 34.0% in the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 216 shares in the last quarter. Blue Trust Inc. grew its position in InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after buying an additional 101 shares in the last quarter. Raymond James & Associates grew its position in InterDigital by 3.2% in the 3rd quarter. Raymond James & Associates now owns 35,359 shares of the Wireless communications provider’s stock valued at $5,008,000 after buying an additional 1,099 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in InterDigital by 151.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 56,713 shares of the Wireless communications provider’s stock valued at $8,032,000 after buying an additional 34,171 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in InterDigital in the 3rd quarter valued at about $257,000. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Performance

NASDAQ:IDCC opened at $217.28 on Thursday. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $218.20. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $191.43 and a 200-day moving average of $168.04. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. InterDigital’s dividend payout ratio (DPR) is 14.95%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the completion of the transaction, the chief technology officer now directly owns 52,396 shares in the company, valued at $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the completion of the transaction, the chief executive officer now owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,182 shares of company stock worth $2,537,245 over the last ninety days. 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.