KLP Kapitalforvaltning AS Has $2.08 Million Stake in InterDigital, Inc. (NASDAQ:IDCC)

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in InterDigital, Inc. by 16.2% during Q1, now owning 10,061 shares valued at approximately $2.08 million.
• Other institutional investors significantly increased their stakes in InterDigital, with Sei Investments Co. raising its position by 66.9% to own 36,621 shares valued at about $7.09 million.
• InterDigital recently announced a quarterly dividend of $0.60 per share, equating to a 1.07% dividend yield and a payout ratio of 19.03%.

KLP Kapitalforvaltning AS decreased its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,061 shares of the Wireless communications provider's stock after selling 1,939 shares during the period. KLP Kapitalforvaltning AS's holdings in InterDigital were worth $2,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its stake in shares of InterDigital by 3.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider's stock valued at $118,722,000 after acquiring an additional 21,319 shares during the last quarter. Geode Capital Management LLC boosted its position in InterDigital by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock worth $115,240,000 after acquiring an additional 1,991 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in shares of InterDigital by 13.9% in the 1st quarter. Reinhart Partners LLC. now owns 410,442 shares of the Wireless communications provider's stock valued at $84,859,000 after buying an additional 50,204 shares during the last quarter. Congress Asset Management Co. boosted its holdings in shares of InterDigital by 5.0% in the 1st quarter. Congress Asset Management Co. now owns 339,101 shares of the Wireless communications provider's stock valued at $70,109,000 after buying an additional 16,040 shares during the last quarter. Finally, Invesco Ltd. raised its stake in InterDigital by 4.7% in the 4th quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock valued at $63,511,000 after acquiring an additional 14,809 shares during the period. Institutional investors and hedge funds own 99.83% of the company's stock.

Insider Transactions at InterDigital

In related news, CTO Rajesh Pankaj sold 1,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $224.58, for a total value of $224,580.00. Following the sale, the chief technology officer directly owned 76,580 shares in the company, valued at $17,198,336.40. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Kritzmacher sold 519 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the sale, the director owned 19,774 shares in the company, valued at $4,481,777.10. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,062 shares of company stock valued at $920,853. Company insiders own 2.80% of the company's stock.

InterDigital Stock Performance

IDCC traded up $23.83 during trading hours on Wednesday, reaching $245.18. The company's stock had a trading volume of 928,690 shares, compared to its average volume of 213,560. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $6.36 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.36. The company's 50-day moving average is $223.99 and its 200-day moving average is $209.92. InterDigital, Inc. has a 52 week low of $121.66 and a 52 week high of $251.00.

InterDigital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, July 9th. InterDigital's payout ratio is currently 19.03%.

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.