Allspring Global Investments Holdings LLC Decreases Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Allspring Global Investments Holdings LLC reduced its position in shares of InterDigital, Inc. (NASDAQ:IDCC) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,700 shares of the Wireless communications provider’s stock after selling 1,520 shares during the period. Allspring Global Investments Holdings LLC’s holdings in InterDigital were worth $8,955,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IDCC. Amundi raised its holdings in shares of InterDigital by 57.0% in the fourth quarter. Amundi now owns 20,897 shares of the Wireless communications provider’s stock valued at $3,989,000 after buying an additional 7,586 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of InterDigital by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider’s stock valued at $928,000 after buying an additional 316 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of InterDigital by 1,209.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 668 shares of the Wireless communications provider’s stock valued at $129,000 after buying an additional 617 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of InterDigital in the fourth quarter valued at about $446,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of InterDigital in the fourth quarter valued at about $9,040,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $181.03, for a total transaction of $126,721.00. Following the transaction, the chief technology officer directly owned 78,161 shares in the company, valued at $14,149,485.83. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Samir Armaly sold 779 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $226.52, for a total transaction of $176,459.08. Following the transaction, the director owned 3,128 shares in the company, valued at approximately $708,554.56. This trade represents a 19.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,762 shares of company stock valued at $822,994. Insiders own 2.80% of the company’s stock.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $224.36 on Friday. The company has a 50-day simple moving average of $218.49 and a 200-day simple moving average of $205.66. InterDigital, Inc. has a one year low of $118.50 and a one year high of $237.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.43 and a beta of 1.36.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.07%. InterDigital’s payout ratio is 19.03%.

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.