Tower Research Capital LLC TRC Raises Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Tower Research Capital LLC TRC raised its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 865.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,521 shares of the Wireless communications provider's stock after acquiring an additional 2,260 shares during the quarter. Tower Research Capital LLC TRC's holdings in InterDigital were worth $488,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its stake in InterDigital by 5.5% in the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock worth $311,654,000 after purchasing an additional 83,794 shares in the last quarter. Geode Capital Management LLC raised its stake in InterDigital by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock worth $115,240,000 after acquiring an additional 1,991 shares in the last quarter. Reinhart Partners LLC. lifted its stake in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after purchasing an additional 164,223 shares during the last quarter. Invesco Ltd. lifted its stake in shares of InterDigital by 4.7% in the 4th quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock valued at $63,511,000 after acquiring an additional 14,809 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new stake in shares of InterDigital during the fourth quarter valued at about $62,583,000. 99.83% of the stock is owned by institutional investors and hedge funds.

InterDigital Trading Up 4.4 %

NASDAQ:IDCC traded up $8.82 during mid-day trading on Friday, hitting $210.97. 610,580 shares of the company's stock were exchanged, compared to its average volume of 405,953. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a fifty-two week low of $103.79 and a fifty-two week high of $231.97. The firm has a market capitalization of $5.48 billion, a P/E ratio of 17.52, a PEG ratio of 1.57 and a beta of 1.44. The company has a 50 day simple moving average of $205.40 and a 200-day simple moving average of $192.91.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, April 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's payout ratio is 19.93%.

Insider Activity at InterDigital

In related news, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the transaction, the insider now directly owns 30,537 shares of the company's stock, valued at approximately $6,550,491.87. This represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following the transaction, the chief technology officer now owns 52,396 shares in the company, valued at approximately $9,693,260. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833 shares of company stock worth $2,938,660 over the last ninety days. Insiders own 2.30% of the company's stock.

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.