Convergence Investment Partners LLC Purchases 4,865 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Convergence Investment Partners LLC boosted its position in InterDigital, Inc. (NASDAQ:IDCC) by 35.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,727 shares of the Wireless communications provider’s stock after buying an additional 4,865 shares during the quarter. InterDigital makes up about 0.8% of Convergence Investment Partners LLC’s portfolio, making the stock its 28th biggest position. Convergence Investment Partners LLC owned about 0.07% of InterDigital worth $3,628,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. One Wealth Advisors LLC lifted its position in shares of InterDigital by 1.8% in the fourth quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock worth $697,000 after purchasing an additional 64 shares in the last quarter. Savant Capital LLC lifted its position in InterDigital by 2.8% during the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock worth $461,000 after buying an additional 64 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after buying an additional 68 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of InterDigital by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider’s stock valued at $2,383,000 after acquiring an additional 100 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of InterDigital by 9.4% in the third 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 during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Trading Up 1.4 %

Shares of NASDAQ:IDCC opened at $217.29 on Wednesday. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $217.32. 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 $5.58 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.44. The company has a 50-day simple moving average of $190.97 and a 200 day simple moving average of $167.70.

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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost 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 14.95%.

Analyst Upgrades and Downgrades

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

Insider Transactions at InterDigital

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at $32,141,829.62. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following the sale, the chief technology officer now directly owns 52,396 shares of the company’s stock, valued at $9,693,260. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,182 shares of company stock worth $2,537,245. 2.30% of the stock is owned by company insiders.

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.