Schonfeld Strategic Advisors LLC Purchases 25,866 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Schonfeld Strategic Advisors LLC lifted its position in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 344.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,370 shares of the Wireless communications provider's stock after purchasing an additional 25,866 shares during the period. Schonfeld Strategic Advisors LLC owned 0.13% of InterDigital worth $6,464,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. World Investment Advisors LLC bought a new stake in shares of InterDigital in the 3rd quarter worth approximately $1,511,000. Tidal Investments LLC boosted its holdings 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 in the last quarter. GAMMA Investing LLC increased its position in InterDigital by 41.2% during the 4th quarter. GAMMA Investing LLC now owns 942 shares of the Wireless communications provider's stock valued at $182,000 after purchasing an additional 275 shares during the period. CWA Asset Management Group LLC increased its position in InterDigital by 24.4% during the 4th quarter. CWA Asset Management Group LLC now owns 8,847 shares of the Wireless communications provider's stock valued at $1,714,000 after purchasing an additional 1,734 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in InterDigital by 101.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 28,686 shares of the Wireless communications provider's stock worth $5,557,000 after purchasing an additional 14,427 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insiders Place Their Bets

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 value of $75,078.50. Following the sale, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 1,781 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $218.00, for a total value of $388,258.00. Following the completion of the sale, the insider now directly owns 24,395 shares in the company, valued at $5,318,110. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,833 shares of company stock worth $2,938,660. 2.30% of the stock is currently owned by company insiders.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $202.15 on Friday. InterDigital, Inc. has a 1 year low of $100.27 and a 1 year high of $231.97. The stock has a market capitalization of $5.25 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.57 and a beta of 1.44. The company's 50-day moving average is $205.37 and its 200 day moving average is $192.26. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

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

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a dividend of $0.60 per share. 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 a positive change from InterDigital's previous quarterly dividend of $0.45. InterDigital's 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.

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