InterDigital, Inc. (NASDAQ:IDCC) Position Increased by First Trust Advisors LP

First Trust Advisors LP raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,295 shares of the Wireless communications provider's stock after acquiring an additional 12,804 shares during the quarter. First Trust Advisors LP owned approximately 0.41% of InterDigital worth $20,010,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in InterDigital during the third quarter worth $1,511,000. Tidal Investments LLC boosted its stake in InterDigital by 13.1% in the third quarter. Tidal Investments LLC now owns 10,923 shares of the Wireless communications provider's stock valued at $1,547,000 after acquiring an additional 1,269 shares during the period. GAMMA Investing LLC grew its stake in InterDigital by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 942 shares of the Wireless communications provider's stock worth $182,000 after buying an additional 275 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of InterDigital by 24.4% during the fourth quarter. CWA Asset Management Group LLC now owns 8,847 shares of the Wireless communications provider's stock valued at $1,714,000 after acquiring an additional 1,734 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of InterDigital by 101.2% during the fourth quarter. Harbor Capital Advisors Inc. now owns 28,686 shares of the Wireless communications provider's stock worth $5,557,000 after acquiring an additional 14,427 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at InterDigital

In other InterDigital news, 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 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 approximately $5,318,110. This trade represents a 6.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $181.03, for a total value of $126,721.00. Following the completion of the sale, the chief technology officer now directly owns 78,161 shares in the company, valued at $14,149,485.83. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,833 shares of company stock worth $2,938,660 in the last 90 days. Corporate insiders own 2.30% of the company's stock.

InterDigital Stock Performance

NASDAQ:IDCC traded up $1.49 during mid-day trading on Thursday, hitting $202.49. The stock had a trading volume of 309,107 shares, compared to its average volume of 407,865. InterDigital, Inc. has a 52 week low of $97.51 and a 52 week high of $231.97. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a 50 day simple moving average of $205.52 and a 200-day simple moving average of $191.94.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The Wireless communications provider reported $3.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.92. The business had revenue of $210.51 million during the quarter, compared to analyst estimates of $176.62 million. InterDigital had a return on equity of 51.55% and a net margin of 41.29%. The business's revenue for the quarter was down 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.58 EPS. On average, research analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, April 9th. This represents a $2.40 annualized dividend and a yield of 1.19%. This is an increase from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio is presently 19.93%.

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.