Kennondale Capital Management LLC Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

Kennondale Capital Management LLC purchased a new stake in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,321 shares of the Wireless communications provider’s stock, valued at approximately $643,000.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC grew its stake in InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in shares of InterDigital by 14,500.0% during the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after buying an additional 290 shares during the last quarter. R Squared Ltd acquired a new stake in shares of InterDigital during the 4th quarter valued at about $70,000. Smartleaf Asset Management LLC grew its stake in shares of InterDigital by 468.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 511 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in 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 worth $129,000 after buying an additional 617 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

InterDigital Price Performance

NASDAQ IDCC opened at $219.63 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $5.64 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $231.97. The company has a 50 day moving average price of $197.52 and a two-hundred day moving average price of $177.77.

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 issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.09%. InterDigital’s dividend payout ratio is currently 19.93%.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00. Following the completion of the sale, the chief technology officer now owns 52,396 shares of the company’s stock, valued at $9,693,260. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Brezski sold 9,602 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total value of $2,066,446.42. Following the transaction, the chief financial officer now owns 102,555 shares in the company, valued at approximately $22,070,861.55. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,134 shares of company stock valued at $4,678,770 over the last three months. 2.30% of the stock is currently owned by insiders.

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.