J2 Capital Management Inc Makes New Investment in InterDigital, Inc. (NASDAQ:IDCC)

J2 Capital Management Inc purchased a new position in shares of InterDigital, Inc. (NASDAQ:IDCC) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,460 shares of the Wireless communications provider’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds have also modified their holdings of IDCC. Captrust Financial Advisors raised its position in shares of InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after purchasing an additional 68 shares during the last quarter. Simplicity Wealth LLC increased its position in InterDigital by 1.5% during the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock worth $665,000 after purchasing an additional 69 shares in the last quarter. Blue Trust Inc. raised its stake in InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after purchasing an additional 101 shares during the last quarter. Larson Financial Group LLC lifted its holdings in InterDigital by 8.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,418 shares of the Wireless communications provider’s stock valued at $201,000 after purchasing an additional 116 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of InterDigital by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider’s stock worth $1,643,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analysts Set New Price Targets

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

InterDigital Price Performance

IDCC opened at $171.69 on Friday. InterDigital, Inc. has a 1 year low of $95.33 and a 1 year high of $207.08. The company’s 50 day simple moving average is $190.45 and its 200 day simple moving average is $156.75. The stock has a market capitalization of $4.35 billion, a PE ratio of 18.34, a P/E/G ratio of 2.11 and a beta of 1.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.45 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 1.05%. InterDigital’s dividend payout ratio is presently 19.23%.

Insider Activity

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $204.13, for a total value of $142,891.00. Following the completion of the transaction, the chief technology officer now owns 52,997 shares in the company, valued at $10,818,277.61. This represents a 1.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now directly owns 24,138 shares of the company’s stock, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,622 shares of company stock valued at $2,433,251 in the last three months. Corporate 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.