Versor Investments LP Buys New Stake in InterDigital, Inc. (NASDAQ:IDCC)

Versor Investments LP acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 7,704 shares of the Wireless communications provider’s stock, valued at approximately $1,091,000.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in InterDigital in the third quarter worth $25,000. Covestor Ltd raised its holdings in InterDigital by 701.7% in the third quarter. Covestor Ltd now owns 922 shares of the Wireless communications provider’s stock worth $131,000 after purchasing an additional 807 shares during the period. Assetmark Inc. raised its holdings in InterDigital by 5.9% in the third quarter. Assetmark Inc. now owns 18,977 shares of the Wireless communications provider’s stock worth $2,688,000 after purchasing an additional 1,060 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of InterDigital during the third quarter worth $1,007,000. Finally, Leavell Investment Management Inc. bought a new position in InterDigital in the third quarter valued at $232,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IDCC. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

Insider Activity at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by company insiders.

InterDigital Stock Performance

NASDAQ IDCC opened at $187.72 on Tuesday. InterDigital, Inc. has a 1 year low of $88.08 and a 1 year high of $187.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 0.77 and a beta of 1.38. The company has a fifty day moving average price of $147.72 and a 200-day moving average price of $129.82.

InterDigital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 0.96%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is presently 19.23%.

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.