InterDigital, Inc. (NASDAQ:IDCC) CTO Sells $67,515.50 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total transaction of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares in the company, valued at $6,701,380.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rajesh Pankaj also recently made the following trade(s):

• On Friday, April 5th, Rajesh Pankaj sold 650 shares of InterDigital stock. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50.

InterDigital Trading Down 0.2 %

IDCC opened at $105.56 on Friday. The firm’s fifty day simple moving average is $101.60 and its 200 day simple moving average is $101.34. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.04. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $119.86. The stock has a market capitalization of $2.66 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.85 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million for the quarter, compared to analysts’ expectations of $104.31 million. As a group, research analysts anticipate that InterDigital, Inc. will post 7.02 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.52%. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDCC. Bank of America reaffirmed an “underperform” rating and issued a $100.00 price objective (down from $140.00) on shares of InterDigital in a research report on Monday, April 1st. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday.

Institutional Investors Weigh In On InterDigital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in InterDigital by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,343,395 shares of the Wireless communications provider’s stock worth $268,274,000 after buying an additional 72,720 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of InterDigital by 220.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after purchasing an additional 792,868 shares during the last quarter. Shannon River Fund Management LLC increased its stake in shares of InterDigital by 3.9% during the 3rd quarter. Shannon River Fund Management LLC now owns 642,265 shares of the Wireless communications provider’s stock worth $51,535,000 after purchasing an additional 23,815 shares during the last quarter. Capital Management Corp VA increased its stake in shares of InterDigital by 12.1% during the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock worth $25,795,000 after purchasing an additional 25,601 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of InterDigital during the 4th quarter worth about $18,987,000. 99.83% of the stock is owned by institutional investors.

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.