InterDigital, Inc. (NASDAQ:IDCC) CTO Sells $99,946.00 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

InterDigital Stock Performance

NASDAQ IDCC traded up $2.91 during trading hours on Tuesday, hitting $146.10. The company had a trading volume of 286,795 shares, compared to its average volume of 458,640. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. InterDigital, Inc. has a 1-year low of $74.65 and a 1-year high of $146.91. The company has a market cap of $3.69 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. The business has a 50 day moving average of $136.40 and a 200-day moving average of $119.43.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The company had revenue of $223.49 million during the quarter, compared to the consensus estimate of $95.63 million. As a group, equities research analysts expect that InterDigital, Inc. will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a dividend of $0.45 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.23%. InterDigital’s dividend payout ratio is 26.47%.

Analyst Ratings Changes

Several research firms recently commented on IDCC. Roth Mkm increased their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Monday.

Institutional Investors Weigh In On InterDigital

Several hedge funds have recently made changes to their positions in IDCC. Icon Wealth Advisors LLC acquired a new stake in shares of InterDigital during the fourth quarter worth about $380,000. Virtu Financial LLC acquired a new stake in shares of InterDigital during the fourth quarter worth about $328,000. Wellington Management Group LLP boosted its stake in shares of InterDigital by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after buying an additional 10,926 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in InterDigital during the fourth quarter worth about $5,427,000. Finally, PNC Financial Services Group Inc. raised its holdings in InterDigital by 40.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,703 shares of the Wireless communications provider’s stock worth $402,000 after purchasing an additional 1,069 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

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.