Congress Asset Management Co. Invests $62.58 Million in InterDigital, Inc. (NASDAQ:IDCC)

Congress Asset Management Co. acquired a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) in the fourth quarter, HoldingsChannel reports. The fund acquired 323,061 shares of the Wireless communications provider’s stock, valued at approximately $62,583,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in shares of InterDigital during the 3rd quarter worth about $25,000. V Square Quantitative Management LLC bought a new position in InterDigital during the 3rd quarter worth approximately $26,000. Mendota Financial Group LLC grew its holdings in InterDigital by 14,500.0% during the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after purchasing an additional 290 shares during the period. R Squared Ltd bought a new stake in InterDigital in the fourth quarter valued at approximately $70,000. Finally, Nisa Investment Advisors LLC raised its holdings in InterDigital by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after purchasing an additional 233 shares during the period. Institutional investors own 99.83% of the company’s stock.

Insider Buying and Selling

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,322 shares of company stock valued at $2,562,751. Company insiders own 2.30% of the company’s stock.

InterDigital Stock Performance

Shares of IDCC stock opened at $214.29 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.62 and a current ratio of 1.70. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $216.00. The company’s 50 day moving average price is $190.07 and its two-hundred day moving average price is $166.28. The company has a market capitalization of $5.43 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44.

InterDigital Increases Dividend

The business 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 is a boost from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, April 9th. InterDigital’s payout ratio is currently 14.95%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

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.