Los Angeles Capital Management LLC Increases Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Los Angeles Capital Management LLC lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 36.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,676 shares of the Wireless communications provider’s stock after purchasing an additional 6,572 shares during the period. Los Angeles Capital Management LLC’s holdings in InterDigital were worth $4,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James & Associates increased its holdings in shares of InterDigital by 3.2% in the 3rd quarter. Raymond James & Associates now owns 35,359 shares of the Wireless communications provider’s stock valued at $5,008,000 after purchasing an additional 1,099 shares in the last quarter. Private Advisor Group LLC purchased a new position in InterDigital in the third quarter valued at about $257,000. Wealth Enhancement Advisory Services LLC purchased a new position in InterDigital in the third quarter valued at about $568,000. Nisa Investment Advisors LLC lifted its position in shares of InterDigital by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock valued at $89,000 after acquiring an additional 233 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of InterDigital by 17.0% during the 3rd quarter. New York State Teachers Retirement System now owns 32,543 shares of the Wireless communications provider’s stock worth $4,609,000 after acquiring an additional 4,737 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other InterDigital news, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the completion of the transaction, the chief executive officer now owns 158,652 shares of the company’s stock, valued at approximately $30,004,266.24. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eeva K. Hakoranta sold 350 shares of the company’s 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 completion of the sale, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,134 shares of company stock worth $4,678,770 in the last ninety days. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

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

InterDigital Price Performance

InterDigital stock opened at $209.91 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $193.54 and its 200 day simple moving average is $170.90. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $218.76. The firm has a market capitalization of $5.39 billion, a PE ratio of 17.43, a P/E/G ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. InterDigital’s dividend payout ratio is currently 19.93%.

About InterDigital

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.