New York State Teachers Retirement System Raises Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

New York State Teachers Retirement System lifted its holdings in InterDigital, Inc. (NASDAQ:IDCC) by 17.0% in the third quarter, Holdings Channel reports. The fund owned 32,543 shares of the Wireless communications provider’s stock after purchasing an additional 4,737 shares during the quarter. New York State Teachers Retirement System’s holdings in InterDigital were worth $4,609,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of InterDigital by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after acquiring an additional 17,238 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in InterDigital by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock valued at $127,392,000 after buying an additional 10,532 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in InterDigital by 51,337.0% during the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after buying an additional 741,820 shares in the last quarter. Reinhart Partners LLC. purchased a new stake in InterDigital in the 3rd quarter valued at about $27,762,000. Finally, Emerald Advisers LLC grew its stake in InterDigital by 127,997.9% in the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after acquiring an additional 120,318 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on IDCC shares. Roth Mkm raised their price objective on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Monday.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now directly owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now owns 7,639 shares in the company, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock valued at $716,218 in the last ninety days. Insiders own 2.30% of the company’s stock.

InterDigital Trading Up 1.8 %

Shares of InterDigital stock opened at $168.84 on Wednesday. InterDigital, Inc. has a 12-month low of $84.41 and a 12-month high of $169.85. The firm’s 50 day simple moving average is $143.47 and its two-hundred day simple moving average is $126.98. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.05 and a beta of 1.38.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.07%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s payout ratio is presently 19.23%.

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.