Richard Brezski Sells 9,602 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) CFO Richard Brezski sold 9,602 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the sale, the chief financial officer now directly owns 102,555 shares of the company’s stock, valued at approximately $22,070,861.55. This trade represents a 8.56 % 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.

InterDigital Trading Down 2.6 %

NASDAQ IDCC opened at $211.40 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The firm has a market cap of $5.43 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. The company has a 50 day moving average price of $192.19 and a 200 day moving average price of $169.13. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $218.76.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s payout ratio is 19.93%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IDCC. Congress Asset Management Co. bought a new position in shares of InterDigital during the 4th quarter worth approximately $62,583,000. Price T Rowe Associates Inc. MD increased its stake in InterDigital by 1,451.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider’s stock valued at $57,986,000 after purchasing an additional 280,030 shares in the last quarter. Reinhart Partners LLC. increased its stake in InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after purchasing an additional 164,223 shares in the last quarter. Millennium Management LLC increased its stake in InterDigital by 3,962.5% during the 4th quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider’s stock valued at $24,947,000 after purchasing an additional 125,610 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in InterDigital by 283,160.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock valued at $16,047,000 after purchasing an additional 113,264 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

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.