Penserra Capital Management LLC Purchases Shares of 8,769 InterDigital, Inc. (NASDAQ:IDCC)

Penserra Capital Management LLC purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,769 shares of the Wireless communications provider's stock, valued at approximately $1,812,000.

Other large investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of InterDigital by 7.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider's stock valued at $928,000 after acquiring an additional 316 shares during the last quarter. Amundi raised its stake in InterDigital by 57.0% during the fourth quarter. Amundi now owns 20,897 shares of the Wireless communications provider's stock worth $3,989,000 after buying an additional 7,586 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in InterDigital by 1,209.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider's stock worth $129,000 after buying an additional 617 shares during the last quarter. Raymond James Financial Inc. bought a new position in InterDigital during the fourth quarter worth $9,040,000. Finally, GAMMA Investing LLC raised its stake in InterDigital by 53.9% during the first quarter. GAMMA Investing LLC now owns 1,450 shares of the Wireless communications provider's stock worth $300,000 after buying an additional 508 shares during the last quarter. Institutional investors own 99.83% of the company's stock.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 466 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $232.33, for a total transaction of $108,265.78. Following the completion of the sale, the insider directly owned 28,804 shares of the company's stock, valued at $6,692,033.32. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $224.58, for a total transaction of $224,580.00. Following the transaction, the chief technology officer owned 76,580 shares in the company, valued at approximately $17,198,336.40. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,062 shares of company stock valued at $920,853. 2.80% of the stock is owned by insiders.

InterDigital Trading Down 0.4%

NASDAQ IDCC traded down $0.87 during mid-day trading on Tuesday, reaching $225.17. 266,277 shares of the stock were exchanged, compared to its average volume of 341,586. InterDigital, Inc. has a one year low of $120.18 and a one year high of $237.50. The stock has a 50 day simple moving average of $219.12 and a 200-day simple moving average of $206.15. The stock has a market cap of $5.84 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.43 and a beta of 1.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, July 9th. InterDigital's dividend payout ratio (DPR) 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.