City Center Advisors LLC Makes New $418,000 Investment in InterDigital, Inc. (NASDAQ:IDCC)

City Center Advisors LLC purchased a new stake in InterDigital, Inc. (NASDAQ:IDCC) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,157 shares of the Wireless communications provider’s stock, valued at approximately $418,000.

A number of other hedge funds have also modified their holdings of IDCC. Disciplined Growth Investors Inc. MN grew its holdings in InterDigital by 3.6% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock valued at $160,441,000 after purchasing an additional 39,891 shares during the period. Pacer Advisors Inc. boosted its position in shares of InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of InterDigital by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock valued at $83,968,000 after buying an additional 3,975 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of InterDigital by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock valued at $30,420,000 after buying an additional 48,137 shares in the last quarter. Finally, Reinhart Partners LLC. acquired a new stake in InterDigital during the 3rd quarter worth $27,762,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Stock Performance

Shares of IDCC stock opened at $185.27 on Monday. The company has a market capitalization of $4.70 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $207.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The company’s 50 day moving average price is $190.41 and its two-hundred day moving average price is $154.98.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a $0.45 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 0.97%. InterDigital’s dividend payout ratio is currently 19.23%.

Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,622 shares of company stock valued at $2,433,251. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.