Edgestream Partners L.P. Buys 13,785 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Edgestream Partners L.P. raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 371.3% in the 4th quarter, Holdings Channel reports. The firm owned 17,498 shares of the Wireless communications provider’s stock after acquiring an additional 13,785 shares during the period. Edgestream Partners L.P.’s holdings in InterDigital were worth $3,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Disciplined Growth Investors Inc. MN lifted its position in shares of InterDigital by 3.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after buying an additional 39,891 shares in the last quarter. Geode Capital Management LLC increased its stake in InterDigital by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock worth $83,968,000 after acquiring an additional 3,975 shares during the last quarter. Reinhart Partners LLC. raised its holdings in shares of InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after acquiring an additional 164,223 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of InterDigital during the 4th quarter valued at approximately $62,583,000. Finally, Wellington Management Group LLP grew its holdings in shares of InterDigital by 6.0% in the third quarter. Wellington Management Group LLP now owns 155,700 shares of the Wireless communications provider’s stock valued at $22,052,000 after purchasing an additional 8,824 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Trading Up 2.7 %

Shares of IDCC opened at $215.28 on Friday. The stock has a market capitalization of $5.53 billion, a PE ratio of 17.88, a P/E/G ratio of 1.57 and a beta of 1.45. The company’s fifty day moving average is $195.60 and its 200 day moving average is $174.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $231.96.

InterDigital Increases Dividend

The firm also recently announced 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 represents a $2.40 annualized dividend and a dividend yield of 1.11%. This is a boost from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio is currently 19.93%.

Insider Activity at InterDigital

In other news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the sale, the insider now owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital 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 transaction, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. This represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,134 shares of company stock valued at $4,678,770. 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.