InterDigital, Inc. (NASDAQ:IDCC) CEO Sells $1,150,747.94 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the sale, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

InterDigital Stock Performance

InterDigital stock opened at $189.43 on Monday. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $203.90. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.80 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The firm’s 50 day simple moving average is $178.14 and its 200 day simple moving average is $146.67.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a $0.45 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.95%. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

Hedge Funds Weigh In On InterDigital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDCC. Transcendent Capital Group LLC bought a new stake in shares of InterDigital during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in InterDigital during the third quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new position in InterDigital in the 2nd quarter worth approximately $29,000. Nisa Investment Advisors LLC increased its holdings in shares of InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 109 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of InterDigital by 81.3% during the 3rd quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock valued at $94,000 after buying an additional 299 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on IDCC. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm increased their target price on InterDigital from $146.00 to $160.00 and gave the stock 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.