Intech Investment Management LLC Raises Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Intech Investment Management LLC grew its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 658.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,728 shares of the Wireless communications provider’s stock after purchasing an additional 25,810 shares during the quarter. Intech Investment Management LLC’s holdings in InterDigital were worth $4,210,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IDCC. Pacer Advisors Inc. boosted its position in InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after buying an additional 741,820 shares during the period. Reinhart Partners LLC. acquired a new stake in shares of InterDigital in the third quarter valued at $27,762,000. Emerald Advisers LLC boosted its holdings in InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock valued at $14,035,000 after purchasing an additional 120,318 shares during the period. International Assets Investment Management LLC grew its stake in InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after purchasing an additional 113,264 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake in InterDigital by 473.5% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock worth $11,244,000 after purchasing an additional 79,648 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Roth Mkm lifted their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Up 3.7 %

InterDigital stock opened at $190.12 on Friday. The stock’s fifty day moving average is $156.92 and its two-hundred day moving average is $134.60. The stock has a market cap of $4.82 billion, a PE ratio of 20.31, a P/E/G ratio of 0.77 and a beta of 1.38. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $191.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.95%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio is 19.23%.

Insider Buying and Selling at InterDigital

In other news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital 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 sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,340 shares of company stock worth $472,253 over the last three months. Insiders own 2.30% of the company’s stock.

InterDigital 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.