InterDigital (NASDAQ:IDCC) insider William J. Merritt sold 2,911 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $74.50, for a total value of $216,869.50. Following the sale, the insider now directly owns 151,104 shares in the company, valued at approximately $11,257,248. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
InterDigital opened at $79.60 on Friday, MarketBeat reports. The company has a market capitalization of $2.77 billion, a PE ratio of 12.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 9.58 and a quick ratio of 9.58. InterDigital has a 12-month low of $79.25 and a 12-month high of $79.65.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, April 26th. The Wireless communications provider reported $1.29 EPS for the quarter, beating the consensus estimate of $0.24 by $1.05. InterDigital had a return on equity of 25.85% and a net margin of 32.42%. The business had revenue of $87.40 million for the quarter, compared to the consensus estimate of $69.69 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. InterDigital’s revenue for the quarter was down 7.5% on a year-over-year basis. analysts anticipate that InterDigital will post 1.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Monday, April 23rd were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, April 20th. This represents a $1.40 annualized dividend and a yield of 1.76%. InterDigital’s payout ratio is 23.10%.
A number of analysts recently commented on IDCC shares. BidaskClub lowered InterDigital from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 25th. Zacks Investment Research lowered InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 7th. B. Riley decreased their target price on InterDigital from $100.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Dougherty & Co raised InterDigital from a “neutral” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Friday, February 23rd. Finally, ValuEngine lowered InterDigital from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $88.33.
A number of institutional investors have recently bought and sold shares of IDCC. Cardinal Capital Management LLC CT lifted its stake in InterDigital by 104.6% in the first quarter. Cardinal Capital Management LLC CT now owns 690,168 shares of the Wireless communications provider’s stock valued at $50,796,000 after purchasing an additional 352,816 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of InterDigital by 65.7% during the fourth quarter. Two Sigma Advisers LP now owns 300,228 shares of the Wireless communications provider’s stock worth $22,862,000 after acquiring an additional 119,000 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of InterDigital during the first quarter worth $6,567,000. Goodman Financial Corp purchased a new stake in shares of InterDigital during the first quarter worth $6,182,000. Finally, Russell Investments Group Ltd. lifted its position in shares of InterDigital by 136.5% during the first quarter. Russell Investments Group Ltd. now owns 142,088 shares of the Wireless communications provider’s stock worth $10,454,000 after acquiring an additional 82,001 shares in the last quarter. Institutional investors and hedge funds own 74.74% of the company’s stock.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks.
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