InterDigital, Inc. (NASDAQ:IDCC) Stake Raised by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 29.0% during the 4th quarter, HoldingsChannel reports. The fund owned 13,784 shares of the Wireless communications provider’s stock after purchasing an additional 3,096 shares during the period. Teacher Retirement System of Texas’ holdings in InterDigital were worth $2,670,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in IDCC. Natixis Advisors LLC purchased a new position in InterDigital during the third quarter valued at approximately $1,427,000. Flagship Harbor Advisors LLC purchased a new position in shares of InterDigital during the 4th quarter valued at $338,000. Kovitz Investment Group Partners LLC acquired a new position in shares of InterDigital in the third quarter worth $380,000. Reinhart Partners LLC. raised its holdings in shares of InterDigital by 83.8% during the fourth 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 in the last quarter. Finally, Amundi boosted its position in InterDigital by 57.0% during the fourth quarter. Amundi now owns 20,897 shares of the Wireless communications provider’s stock valued at $3,989,000 after purchasing an additional 7,586 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Wednesday, February 5th. The shares were 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 $9,693,260. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the sale, the chief financial officer now directly owns 102,555 shares of the company’s stock, valued at $22,070,861.55. This represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,833 shares of company stock valued at $2,954,830. 2.30% of the stock is currently owned by corporate insiders.

InterDigital Stock Performance

Shares of NASDAQ IDCC opened at $225.72 on Wednesday. InterDigital, Inc. has a one year low of $95.33 and a one year high of $231.97. The business’s 50-day moving average price is $201.77 and its two-hundred day moving average price is $181.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $5.80 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.06%. This is an increase from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio is currently 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.