Rajesh Pankaj Sells 700 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the business’s 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 transaction, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

InterDigital Price Performance

Shares of IDCC stock opened at $146.10 on Wednesday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 0.88 and a beta of 1.39. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. InterDigital, Inc. has a twelve month low of $74.65 and a twelve month high of $146.91. The stock has a fifty day simple moving average of $136.88 and a two-hundred day simple moving average of $119.72.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $95.63 million. On average, analysts predict that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid a $0.45 dividend. 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 dividend on an annualized basis and a yield of 1.23%. InterDigital’s payout ratio is 26.47%.

Institutional Trading of InterDigital

Several hedge funds and other institutional investors have recently bought and sold shares of IDCC. CWM LLC raised its position in shares of InterDigital by 34.0% in the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 216 shares in the last quarter. GAMMA Investing LLC raised its holdings in InterDigital by 81.3% in 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 in the last quarter. Handelsbanken Fonder AB lifted its position in shares of InterDigital by 29.5% during the third quarter. Handelsbanken Fonder AB now owns 7,030 shares of the Wireless communications provider’s stock valued at $996,000 after buying an additional 1,600 shares during the last quarter. Capital CS Group LLC bought a new stake in shares of InterDigital in the 3rd quarter valued at about $502,000. Finally, SG Americas Securities LLC bought a new stake in shares of InterDigital in the 3rd quarter valued at about $417,000. Institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.