InterDigital, Inc. (NASDAQ:IDCC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 4.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 143,373 shares of the Wireless communications provider’s stock after acquiring an additional 6,357 shares during the quarter. Principal Financial Group Inc.’s holdings in InterDigital were worth $27,774,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IDCC. Natixis Advisors LLC purchased a new stake in shares of InterDigital in the third quarter valued at approximately $1,427,000. Flagship Harbor Advisors LLC purchased a new stake in shares of InterDigital in the fourth quarter valued at approximately $338,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of InterDigital in the third quarter valued at approximately $380,000. Reinhart Partners LLC. grew its position in shares of InterDigital by 83.8% in the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after purchasing an additional 164,223 shares in the last quarter. Finally, Olympiad Research LP purchased a new stake in shares of InterDigital in the third quarter valued at approximately $475,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

InterDigital Trading Down 2.6 %

Shares of InterDigital stock opened at $211.40 on Friday. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $218.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a 50 day moving average of $192.19 and a 200 day moving average of $169.13.

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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.14%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio is presently 19.93%.

Insider Buying and Selling

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the transaction, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Brezski sold 9,602 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the transaction, the chief financial officer now owns 102,555 shares of the company’s stock, valued at $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,134 shares of company stock worth $4,678,770. 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.