Bayesian Capital Management LP Acquires Shares of 7,529 InterDigital, Inc. (NASDAQ:IDCC)

Bayesian Capital Management LP purchased a new position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,529 shares of the Wireless communications provider's stock, valued at approximately $1,459,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its stake in InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock worth $26,000 after buying an additional 111 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of InterDigital in the fourth quarter valued at $39,000. Mendota Financial Group LLC lifted its stake in InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider's stock worth $57,000 after purchasing an additional 290 shares during the last quarter. R Squared Ltd bought a new stake in shares of InterDigital during the fourth quarter worth $70,000. Finally, Transce3nd LLC purchased a new position in shares of InterDigital during the fourth quarter worth approximately $110,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 0.9 %

IDCC stock traded down $1.99 during trading on Wednesday, hitting $212.34. 320,357 shares of the company's stock traded hands, compared to its average volume of 402,279. InterDigital, Inc. has a 1 year low of $104.52 and a 1 year high of $231.97. The business has a fifty day simple moving average of $205.54 and a two-hundred day simple moving average of $193.85. 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 has a market capitalization of $5.51 billion, a P/E ratio of 17.64, a PEG ratio of 1.57 and a beta of 1.35.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were issued a $0.60 dividend. The ex-dividend date was Wednesday, April 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.13%. InterDigital's dividend payout ratio is currently 19.03%.

Insiders Place Their Bets

In other InterDigital news, insider Joshua D. Schmidt sold 1,781 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total value of $388,258.00. Following the transaction, the insider now directly owns 24,395 shares in the company, valued at $5,318,110. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, April 7th. The shares were sold at an average price of $181.03, for a total value of $126,721.00. Following the completion of the sale, the chief technology officer now owns 78,161 shares in the company, valued at $14,149,485.83. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,133 shares of company stock valued at $2,809,160. 2.30% of the stock is owned by 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.