Allspring Global Investments Holdings LLC Has $8.87 Million Position in InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 20.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,220 shares of the Wireless communications provider’s stock after selling 11,493 shares during the period. Allspring Global Investments Holdings LLC’s holdings in InterDigital were worth $8,867,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IDCC. Transcendent Capital Group LLC bought a new stake in InterDigital during the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in InterDigital during the third quarter valued at approximately $26,000. Mendota Financial Group LLC boosted 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 last quarter. R Squared Ltd acquired a new position in InterDigital during the fourth quarter valued at approximately $70,000. Finally, Nisa Investment Advisors LLC boosted its position in InterDigital by 58.8% during the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock valued at $89,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the sale, the chief technology officer now owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the sale, the chief executive officer now directly owns 164,543 shares in the company, valued at approximately $32,141,829.62. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,182 shares of company stock worth $2,537,245 in the last 90 days. Company insiders own 2.30% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $217.29 on Wednesday. The business’s 50 day moving average is $190.97 and its 200-day moving average is $167.70. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $217.32. The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.08. The firm has a market cap of $5.58 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio (DPR) is 19.93%.

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.