Convergence Investment Partners LLC Has $3.63 Million Stock Position in InterDigital, Inc. (NASDAQ:IDCC)

Convergence Investment Partners LLC boosted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 35.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,727 shares of the Wireless communications provider’s stock after purchasing an additional 4,865 shares during the quarter. InterDigital accounts for about 0.8% of Convergence Investment Partners LLC’s portfolio, making the stock its 28th largest holding. Convergence Investment Partners LLC’s holdings in InterDigital were worth $3,628,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Congress Asset Management Co. acquired a new stake in shares of InterDigital in the fourth quarter valued at approximately $62,583,000. Reinhart Partners LLC. raised its holdings in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after acquiring an additional 164,223 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock valued at $16,047,000 after acquiring an additional 113,264 shares during the period. Emerald Advisers LLC grew its holdings in shares of InterDigital by 50.3% during the 3rd quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock worth $25,633,000 after purchasing an additional 60,575 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of InterDigital by 28.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after purchasing an additional 48,137 shares during the period. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the company’s 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 completion of the transaction, the chief technology officer now directly owns 52,396 shares in the company, valued at approximately $9,693,260. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value 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. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,182 shares of company stock valued at $2,537,245 over the last ninety days. 2.30% of the stock is owned by corporate insiders.

InterDigital Stock Up 1.4 %

NASDAQ IDCC opened at $217.29 on Wednesday. The business has a fifty day moving average price of $190.97 and a two-hundred day moving average price of $167.70. The stock has a market capitalization of $5.58 billion, a PE ratio of 18.05, a PEG ratio of 1.55 and a beta of 1.44. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $217.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70.

InterDigital Increases Dividend

The firm 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 dividend of $0.60 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio is currently 14.95%.

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.