Teza Capital Management LLC Decreases Position in InterDigital, Inc. (NASDAQ:IDCC)

Teza Capital Management LLC reduced its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 62.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,881 shares of the Wireless communications provider's stock after selling 4,705 shares during the quarter. Teza Capital Management LLC's holdings in InterDigital were worth $558,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Congress Asset Management Co. acquired a new stake in InterDigital in the fourth quarter valued at approximately $62,583,000. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 period. Millennium Management LLC grew its holdings in InterDigital by 3,962.5% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in InterDigital during the 4th quarter worth $19,572,000. Finally, Norges Bank purchased a new stake in InterDigital during the 4th quarter worth $17,387,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 1,781 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total transaction of $388,258.00. Following the completion of the transaction, the insider now directly owns 24,395 shares of the company's stock, valued at $5,318,110. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,181 shares of company stock worth $667,635. 2.80% of the stock is currently owned by corporate insiders.

InterDigital Stock Performance

NASDAQ:IDCC opened at $217.36 on Tuesday. The firm has a 50-day moving average of $206.63 and a two-hundred day moving average of $198.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market cap of $5.64 billion, a P/E ratio of 18.05, a PEG ratio of 1.57 and a beta of 1.35. InterDigital, Inc. has a 1-year low of $109.11 and a 1-year high of $231.97.

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.

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