Icon Wealth Advisors LLC Buys 5,640 Shares of InterDigital, Inc. (NASDAQ:IDCC)

Icon Wealth Advisors LLC raised its stake in shares of InterDigital, Inc. (NASDAQ:IDCC) by 161.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,140 shares of the Wireless communications provider’s stock after acquiring an additional 5,640 shares during the period. Icon Wealth Advisors LLC’s holdings in InterDigital were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Simplicity Wealth LLC lifted its position in shares of InterDigital by 1.5% during the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock worth $665,000 after buying an additional 69 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in InterDigital by 2.0% during the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock worth $536,000 after acquiring an additional 90 shares during the period. Blue Trust Inc. boosted its position in InterDigital by 9.4% in the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock worth $166,000 after purchasing an additional 101 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 109 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 124 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Insiders Place Their Bets

In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the transaction, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,340 shares of company stock worth $472,253 in the last three months. 2.30% of the stock is currently owned by corporate insiders.

InterDigital Stock Up 3.7 %

Shares of NASDAQ IDCC opened at $190.12 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.82 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.78 and a beta of 1.38. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $191.57. The business has a 50-day simple moving average of $156.92 and a two-hundred day simple moving average of $134.60.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is 19.23%.

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.