InterDigital, Inc. (NASDAQ:IDCC) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. grew its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 339,101 shares of the Wireless communications provider's stock after buying an additional 16,040 shares during the quarter. Congress Asset Management Co. owned 1.32% of InterDigital worth $70,109,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its holdings in InterDigital by 29.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,948 shares of the Wireless communications provider's stock worth $378,000 after purchasing an additional 441 shares in the last quarter. Apollon Wealth Management LLC increased its position in InterDigital by 14.9% during the 4th quarter. Apollon Wealth Management LLC now owns 2,498 shares of the Wireless communications provider's stock worth $484,000 after purchasing an additional 323 shares during the period. Advisors Preferred LLC acquired a new position in InterDigital during the 4th quarter worth approximately $1,619,000. Savant Capital LLC raised its stake in shares of InterDigital by 2.8% during the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider's stock worth $461,000 after buying an additional 64 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in shares of InterDigital by 9.1% in the 4th quarter. Leavell Investment Management Inc. now owns 1,784 shares of the Wireless communications provider's stock valued at $346,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 99.83% of the company's stock.

Insider Activity at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $181.03, for a total transaction of $126,721.00. Following the completion of the transaction, the chief technology officer now directly owns 78,161 shares in the company, valued at $14,149,485.83. The trade was a 0.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 1,781 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total value of $388,258.00. Following the completion of the sale, the insider now owns 24,395 shares in the company, valued at $5,318,110. This represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,181 shares of company stock valued at $667,635 in the last ninety days. Corporate insiders own 2.80% of the company's stock.

InterDigital Price Performance

Shares of InterDigital stock traded down $6.32 during trading on Tuesday, reaching $221.64. The company's stock had a trading volume of 247,616 shares, compared to its average volume of 385,389. The business has a 50 day moving average price of $207.68 and a 200-day moving average price of $202.05. InterDigital, Inc. has a 12-month low of $114.42 and a 12-month high of $231.97. The company has a market capitalization of $5.75 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02.

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.