InterDigital, Inc. (NASDAQ:IDCC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in InterDigital, Inc. (NASDAQ:IDCC) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,339 shares of the Wireless communications provider’s stock after selling 62 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of InterDigital worth $2,777,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in InterDigital during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of InterDigital during the 3rd quarter valued at $26,000. Mendota Financial Group LLC boosted its position in InterDigital by 14,500.0% during the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock worth $57,000 after purchasing an additional 290 shares during the period. R Squared Ltd acquired a new position in shares of InterDigital during the fourth quarter worth about $70,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of 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 buying an additional 233 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the sale, the chief executive officer now owns 158,652 shares in the company, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,322 shares of company stock worth $2,562,751. 2.30% of the stock is owned by insiders.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $204.39 on Monday. The business has a 50 day simple moving average of $188.74 and a 200-day simple moving average of $163.43. The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.08. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $213.38. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.98, 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 paid a dividend of $0.60 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio is presently 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.