InterDigital, Inc. (NASDAQ:IDCC) Shares Purchased by Reinhart Partners LLC.

Reinhart Partners LLC. raised its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,442 shares of the Wireless communications provider's stock after purchasing an additional 50,204 shares during the period. InterDigital accounts for about 3.1% of Reinhart Partners LLC.'s holdings, making the stock its 8th biggest position. Reinhart Partners LLC. owned 1.60% of InterDigital worth $84,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in IDCC. Congress Asset Management Co. purchased a new position in InterDigital in the fourth quarter valued at approximately $62,583,000. GAMMA Investing LLC increased its stake in InterDigital by 31,724.6% in the first quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock valued at $619,810,000 after purchasing an additional 298,846 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in InterDigital by 1,451.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider's stock valued at $57,986,000 after purchasing an additional 280,030 shares during the last quarter. Millennium Management LLC increased its stake in InterDigital by 3,962.5% in the fourth quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock valued at $24,947,000 after purchasing an additional 125,610 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in InterDigital in the fourth quarter valued at approximately $19,572,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Down 2.8%

InterDigital stock traded down $6.32 during mid-day trading on Tuesday, hitting $221.64. The company had a trading volume of 247,616 shares, compared to its average volume of 385,389. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.57 and a beta of 1.37. InterDigital, Inc. has a 1 year low of $114.42 and a 1 year high of $231.97. 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 business has a fifty day moving average of $207.68 and a 200 day moving average of $202.05.

Insider Activity

In related news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 78,161 shares of the company's stock, valued at $14,149,485.83. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joshua D. Schmidt sold 1,781 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total value of $388,258.00. Following the sale, the insider now directly owns 24,395 shares of the company's stock, valued at approximately $5,318,110. This represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,181 shares of company stock valued at $667,635. 2.80% of the stock is currently owned by company insiders.

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.