Rhumbline Advisers Grows Position in InterDigital, Inc. (NASDAQ:IDCC)

Rhumbline Advisers raised its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,604 shares of the Wireless communications provider’s stock after acquiring an additional 646 shares during the period. Rhumbline Advisers owned approximately 0.30% of InterDigital worth $14,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDCC. CWM LLC raised its holdings in shares of 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 acquiring an additional 216 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 101 shares in the last quarter. Raymond James & Associates raised its holdings in shares of 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 acquiring an additional 1,099 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 acquiring an additional 34,171 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in shares of InterDigital during the 3rd quarter valued at about $257,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 164,543 shares in the company, valued at $32,141,829.62. This trade represents a 3.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the sale, the chief financial officer now owns 102,555 shares in the company, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,134 shares of company stock worth $4,678,770 in the last ninety days. 2.30% of the stock is owned by insiders.

InterDigital Stock Performance

Shares of NASDAQ IDCC opened at $211.40 on Friday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $218.76. The stock’s 50-day moving average is $192.19 and its 200 day moving average is $169.13.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.14%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) 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.