Envestnet Asset Management Inc. Raises Position in InterDigital, Inc. (NASDAQ:IDCC)

Envestnet Asset Management Inc. lifted its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,384 shares of the Wireless communications provider's stock after purchasing an additional 11,411 shares during the quarter. Envestnet Asset Management Inc. owned about 0.57% of InterDigital worth $30,265,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Elequin Capital LP acquired a new position in InterDigital in the fourth quarter valued at $29,000. Wayfinding Financial LLC acquired a new stake in InterDigital during the first quarter worth about $32,000. Prudent Man Investment Management Inc. purchased a new position in shares of InterDigital in the 4th quarter worth about $39,000. Versant Capital Management Inc lifted its stake in shares of InterDigital by 957.9% in the 1st quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider's stock valued at $42,000 after purchasing an additional 182 shares in the last quarter. Finally, Transce3nd LLC acquired a new position in shares of InterDigital in the 4th quarter valued at about $110,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Up 0.7%

IDCC opened at $226.74 on Tuesday. The company has a market cap of $5.88 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. InterDigital, Inc. has a 1 year low of $120.18 and a 1 year high of $237.50. The firm has a 50 day moving average price of $220.95 and a 200 day moving average price of $207.11.

InterDigital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, July 9th. InterDigital's dividend payout ratio (DPR) is presently 19.03%.

Insider Activity at InterDigital

In related news, Director John A. Kritzmacher sold 519 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $226.65, for a total transaction of $117,631.35. Following the completion of the sale, the director directly owned 19,774 shares of the company's stock, valued at approximately $4,481,777.10. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Derek K. Aberle sold 692 shares of InterDigital stock in a transaction on Monday, June 9th. The stock was sold at an average price of $226.41, for a total transaction of $156,675.72. Following the sale, the director directly owned 6,192 shares in the company, valued at $1,401,930.72. This trade represents a 10.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,062 shares of company stock valued at $920,853 over the last 90 days. Corporate insiders own 2.80% 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.

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