Teacher Retirement System of Texas Has $2.35 Million Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Teacher Retirement System of Texas lowered its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,347 shares of the Wireless communications provider's stock after selling 2,437 shares during the period. Teacher Retirement System of Texas' holdings in InterDigital were worth $2,346,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of IDCC. GAMMA Investing LLC raised its holdings in shares of InterDigital by 31,724.6% during the 1st quarter. GAMMA Investing LLC now owns 299,788 shares of the Wireless communications provider's stock worth $619,810,000 after buying an additional 298,846 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of InterDigital by 1,451.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider's stock worth $57,986,000 after buying an additional 280,030 shares in the last quarter. Millennium Management LLC raised its holdings in shares of InterDigital by 3,962.5% during the 4th quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock worth $24,947,000 after buying an additional 125,610 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of InterDigital by 152,729.3% during the 1st quarter. Bessemer Group Inc. now owns 114,622 shares of the Wireless communications provider's stock worth $23,700,000 after buying an additional 114,547 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of InterDigital during the 4th quarter worth $19,572,000. Institutional investors and hedge funds own 99.83% of the company's stock.

InterDigital Price Performance

Shares of InterDigital stock traded up $2.67 during trading on Thursday, reaching $229.29. 236,489 shares of the company's stock were exchanged, compared to its average volume of 367,771. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. InterDigital, Inc. has a 1-year low of $120.18 and a 1-year high of $237.50. The company has a market cap of $5.95 billion, a P/E ratio of 18.18, a PEG ratio of 1.44 and a beta of 1.36. The firm's 50-day moving average price is $220.13 and its 200 day moving average price is $206.42.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.05%. InterDigital's payout ratio is presently 19.03%.

Insiders Place Their Bets

In other InterDigital news, Director Jean F. Rankin sold 606 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the transaction, the director owned 27,353 shares of the company's stock, valued at $6,194,633.91. This represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $224.58, for a total value of $224,580.00. Following the completion of the sale, the chief technology officer directly owned 76,580 shares of the company's stock, valued at approximately $17,198,336.40. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,062 shares of company stock worth $920,853. Company insiders own 2.80% of the company's stock.

About InterDigital

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.