KLP Kapitalforvaltning AS Invests $2.33 Million in InterDigital, Inc. (NASDAQ:IDCC)

KLP Kapitalforvaltning AS purchased a new position in InterDigital, Inc. (NASDAQ:IDCC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 12,000 shares of the Wireless communications provider’s stock, valued at approximately $2,325,000.

A number of other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after buying an additional 111 shares during the last quarter. Mendota Financial Group LLC increased its position in shares of 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 acquiring an additional 290 shares in the last quarter. R Squared Ltd purchased a new position in InterDigital in the 4th quarter worth approximately $70,000. Smartleaf Asset Management LLC lifted its position in InterDigital by 468.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 511 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in InterDigital by 22.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 3.4 %

InterDigital stock opened at $215.05 on Friday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.57 and a beta of 1.45. 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 12 month low of $95.33 and a 12 month high of $231.97. The stock has a fifty day simple moving average of $203.58 and a two-hundred day simple moving average of $181.89.

InterDigital Increases Dividend

The firm also recently announced 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. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.12%. InterDigital’s payout ratio is 19.93%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of InterDigital stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the sale, the insider now owns 30,537 shares of the company’s stock, valued at approximately $6,550,491.87. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total transaction of $152,656.00. Following the sale, the chief technology officer now owns 71,606 shares of the company’s stock, valued at approximately $15,615,836.48. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,833 shares of company stock worth $2,954,830. Company insiders own 2.30% of the company’s stock.

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.