InterDigital (NASDAQ:IDCC) Trading Down 7.4% on Insider Selling

InterDigital, Inc. (NASDAQ:IDCC) traded down 7.4% on Tuesday following insider selling activity. The company traded as low as $186.93 and last traded at $186.93. 227,074 shares were traded during mid-day trading, a decline of 40% from the average session volume of 377,113 shares. The stock had previously closed at $201.77.

Specifically, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the sale, the chief technology officer now directly owns 52,997 shares in the company, valued at approximately $10,818,277.61. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IDCC. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm upped their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

InterDigital Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a market capitalization of $4.74 billion, a PE ratio of 19.98, a P/E/G ratio of 0.95 and a beta of 1.44. The company has a 50-day moving average price of $188.35 and a 200-day moving average price of $153.43.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a yield of 0.96%. InterDigital’s dividend payout ratio (DPR) is 19.23%.

Institutional Investors Weigh In On InterDigital

Several hedge funds have recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in shares of InterDigital during the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in InterDigital in the 3rd quarter valued at $26,000. Nisa Investment Advisors LLC lifted its stake in shares of InterDigital by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after purchasing an additional 233 shares during the period. GAMMA Investing LLC boosted its holdings in shares of InterDigital by 81.3% during the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock worth $94,000 after purchasing an additional 299 shares during the last quarter. Finally, CWM LLC grew its position in shares of InterDigital by 34.0% in the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after purchasing an additional 216 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

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.