World Investment Advisors LLC Takes $1.51 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

World Investment Advisors LLC bought a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,672 shares of the Wireless communications provider’s stock, valued at approximately $1,511,000.

Several other hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors lifted its holdings 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 valued at $1,965,000 after acquiring an additional 68 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of InterDigital by 1.5% in the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock worth $665,000 after buying an additional 69 shares during the period. Miller Howard Investments Inc. NY grew its stake in shares of InterDigital by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after buying an additional 90 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of InterDigital by 9.4% during 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 during the period. Finally, Nisa Investment Advisors LLC lifted its position in InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Performance

Shares of IDCC opened at $194.36 on Friday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 0.81 and a beta of 1.44. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $173.81 and its two-hundred day moving average is $143.93. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $203.90.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a yield of 0.93%. InterDigital’s dividend payout ratio (DPR) is 19.23%.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock valued at $472,253 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

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.