3,009 Shares in InterDigital, Inc. (NASDAQ:IDCC) Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC purchased a new position in InterDigital, Inc. (NASDAQ:IDCC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,009 shares of the Wireless communications provider’s stock, valued at approximately $583,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC increased its stake in shares of 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 period. Prudent Man Investment Management Inc. bought a new stake in InterDigital in the 4th quarter worth $39,000. Mendota Financial Group LLC increased its position in shares of InterDigital by 14,500.0% in 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 during the period. R Squared Ltd bought a new position in shares of InterDigital during the fourth quarter valued at about $70,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of InterDigital by 468.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 511 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 3.4 %

NASDAQ IDCC opened at $191.31 on Monday. InterDigital, Inc. has a 1 year low of $95.36 and a 1 year high of $231.97. The stock has a market capitalization of $4.91 billion, a PE ratio of 15.89, a PEG ratio of 1.57 and a beta of 1.44. 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 business’s 50-day moving average is $207.18 and its 200 day moving average is $185.51.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.93%.

Insider Activity

In related news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $218.08, for a total value of $152,656.00. Following the sale, the chief technology officer now owns 71,606 shares in the company, valued at $15,615,836.48. The trade was a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eeva K. Hakoranta sold 350 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the completion of the transaction, the insider now owns 30,537 shares of the company’s stock, valued at $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,133 shares of company stock valued at $2,811,939. Company insiders own 2.30% of the company’s stock.

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.