InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by Shannon River Fund Management LLC

Shannon River Fund Management LLC decreased its position in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,645 shares of the Wireless communications provider's stock after selling 90,507 shares during the period. InterDigital accounts for approximately 10.9% of Shannon River Fund Management LLC's investment portfolio, making the stock its 2nd largest position. Shannon River Fund Management LLC owned 1.51% of InterDigital worth $73,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDCC. Boston Partners raised its position in InterDigital by 5.5% in the fourth quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider's stock valued at $311,654,000 after purchasing an additional 83,794 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 1,991 shares during the last quarter. Reinhart Partners LLC. lifted its holdings in shares of 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. boosted its position 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 purchasing an additional 14,809 shares during the period. Finally, Congress Asset Management Co. acquired a new position in InterDigital during the fourth quarter worth approximately $62,583,000. Institutional investors and hedge funds own 99.83% of the company's stock.

Insider Transactions at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the completion of the transaction, the chief technology officer now directly owns 52,396 shares of the company's stock, valued at approximately $9,693,260. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the sale, the chief financial officer now owns 102,555 shares in the company, valued at approximately $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,833 shares of company stock worth $2,938,660 over the last ninety days. 2.30% of the stock is currently owned by company insiders.

InterDigital Stock Performance

NASDAQ:IDCC traded down $7.71 during trading hours on Friday, reaching $189.27. 328,595 shares of the company's stock were exchanged, compared to its average volume of 413,202. 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 1-year low of $96.48 and a 1-year high of $231.97. The company has a 50-day moving average of $208.98 and a 200 day moving average of $189.72. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.27%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital's dividend payout ratio (DPR) is 19.93%.

InterDigital 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.