SG Americas Securities LLC raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 2,687.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,494 shares of the Wireless communications provider's stock after acquiring an additional 71,822 shares during the quarter. SG Americas Securities LLC owned approximately 0.29% of InterDigital worth $15,402,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of InterDigital by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 1,450 shares of the Wireless communications provider's stock worth $300,000 after purchasing an additional 508 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of InterDigital by 47.0% during the first quarter. Harbor Capital Advisors Inc. now owns 42,158 shares of the Wireless communications provider's stock valued at $8,716,000 after buying an additional 13,472 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of InterDigital by 12.8% during the first quarter. Portside Wealth Group LLC now owns 1,869 shares of the Wireless communications provider's stock valued at $386,000 after buying an additional 212 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 in the last quarter. Finally, Reinhart Partners LLC. grew its position 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 worth $84,859,000 after buying an additional 50,204 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $181.03, for a total transaction of $126,721.00. Following the sale, the chief technology officer now owns 78,161 shares in the company, valued at approximately $14,149,485.83. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jean F. Rankin sold 606 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.47, for a total transaction of $137,240.82. Following the sale, the director now directly owns 27,353 shares in the company, valued at approximately $6,194,633.91. This represents a 2.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,777 shares of company stock worth $1,255,642 in the last ninety days. 2.30% of the stock is owned by insiders.
InterDigital Stock Down 1.5%
Shares of NASDAQ IDCC traded down $3.33 during trading hours on Friday, hitting $218.51. 178,275 shares of the stock were exchanged, compared to its average volume of 383,917. The firm has a fifty day moving average price of $208.82 and a 200-day moving average price of $202.38. 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, Inc. has a 12 month low of $114.56 and a 12 month high of $231.97. The company has a market cap of $5.67 billion, a PE ratio of 18.15, a PEG ratio of 1.57 and a beta of 1.37.
InterDigital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.10%. InterDigital's payout ratio is 19.03%.
About InterDigital
(
Free Report)
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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