Assenagon Asset Management S.A. Trims Stock Holdings in InterDigital, Inc. (NASDAQ:IDCC)

Assenagon Asset Management S.A. decreased its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,744 shares of the Wireless communications provider’s stock after selling 1,196 shares during the period. Assenagon Asset Management S.A.’s holdings in InterDigital were worth $2,221,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of InterDigital by 504.5% during 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 during the last quarter. Elequin Capital LP acquired a new position in shares of InterDigital during the fourth quarter worth approximately $29,000. Prudent Man Investment Management Inc. acquired a new position in shares of InterDigital during the fourth quarter valued at about $39,000. Versant Capital Management Inc increased its position in shares of InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 182 shares during the period. Finally, Transce3nd LLC acquired a new stake in InterDigital during the fourth quarter valued at approximately $110,000. Institutional investors own 99.83% of the company’s stock.

Insider Activity

In other news, Director Jean F. Rankin sold 606 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.47, for a total transaction of $137,240.82. Following the completion of the sale, the director now owns 27,353 shares of the company’s stock, valued at approximately $6,194,633.91. This represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 519 shares of InterDigital stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.65, for a total value of $117,631.35. Following the completion of the transaction, the director now directly owns 19,774 shares in the company, valued at approximately $4,481,777.10. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,777 shares of company stock worth $1,255,642 over the last quarter. 2.80% of the stock is currently owned by company insiders.

InterDigital Price Performance

Shares of IDCC stock opened at $222.34 on Tuesday. InterDigital, Inc. has a 52 week low of $114.56 and a 52 week high of $231.97. 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’s fifty day moving average is $209.99 and its 200-day moving average is $202.81. The stock has a market capitalization of $5.77 billion, a PE ratio of 18.47, a PEG ratio of 1.57 and a beta of 1.37.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, July 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.03%.

InterDigital Company 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.