Teachers Retirement System of The State of Kentucky Trims Stake in InterDigital, Inc. (NASDAQ:IDCC)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,195 shares of the Wireless communications provider's stock after selling 1,660 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in InterDigital were worth $1,587,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Boston Partners lifted its position in shares of 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 acquiring an additional 83,794 shares in the last quarter. Geode Capital Management LLC increased its position in shares of InterDigital by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider's stock valued at $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 worth $69,785,000 after acquiring an additional 164,223 shares during the last quarter. Invesco Ltd. lifted its stake in InterDigital by 4.7% in the fourth quarter. Invesco Ltd. now owns 327,851 shares of the Wireless communications provider's stock worth $63,511,000 after purchasing an additional 14,809 shares during the last quarter. Finally, Congress Asset Management Co. bought a new position in shares of InterDigital during the fourth quarter valued at approximately $62,583,000. 99.83% of the stock is currently owned by institutional investors.

InterDigital Trading Up 0.4 %

Shares of IDCC stock traded up $0.88 on Thursday, reaching $201.88. 422,416 shares of the company's stock were exchanged, compared to its average volume of 408,999. The company's fifty day simple moving average is $205.52 and its 200 day simple moving average is $191.94. The stock has a market capitalization of $5.19 billion, a PE ratio of 16.77, a P/E/G ratio of 1.57 and a beta of 1.44. 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 52 week low of $97.51 and a 52 week high of $231.97.

InterDigital (NASDAQ:IDCC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The Wireless communications provider reported $3.45 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.92. The firm had revenue of $210.51 million during the quarter, compared to analysts' expectations of $176.62 million. InterDigital had a net margin of 41.29% and a return on equity of 51.55%. The company's revenue was down 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.58 EPS. As a group, analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a $0.60 dividend. This is a positive change from InterDigital's previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, April 9th. InterDigital's payout ratio is currently 19.93%.

Insider Transactions at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Brezski sold 9,602 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the sale, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,833 shares of company stock worth $2,938,660. Insiders own 2.30% of the company's stock.

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.