Harvest Fund Management Co. Ltd Acquires New Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Harvest Fund Management Co. Ltd acquired a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,925 shares of the Wireless communications provider’s stock, valued at approximately $1,535,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 111 shares during the period. Mendota Financial Group LLC lifted its position 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 position in InterDigital in the fourth quarter worth approximately $70,000. Smartleaf Asset Management LLC raised its position in InterDigital by 468.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 511 shares during the period. Finally, TD Private Client Wealth LLC raised its position in InterDigital by 22.9% in the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 168 shares during the period. Institutional investors own 99.83% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were 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 directly owns 158,652 shares in the company, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard Brezski sold 9,602 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were 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 owns 102,555 shares in the company, valued at $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,243 shares of company stock worth $3,528,022. Company insiders own 2.30% of the company’s stock.

InterDigital Stock Up 0.8 %

IDCC opened at $220.85 on Thursday. 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 1-year low of $95.33 and a 1-year high of $231.97. The company has a market capitalization of $5.67 billion, a PE ratio of 18.34, a PEG ratio of 1.57 and a beta of 1.45. The firm’s 50 day simple moving average is $198.76 and its two-hundred day simple moving average is $178.64.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.60 dividend. The ex-dividend date is Wednesday, April 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a yield of 1.09%. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

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.