InterDigital Inc. (IDCC) Insider William J. Merritt Sells 5,000 Shares
InterDigital Inc. (NASDAQ:IDCC) insider William J. Merritt sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $78.35, for a total transaction of $391,750.00. Following the completion of the transaction, the insider now owns 136,072 shares of the company’s stock, valued at $10,661,241.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 77.81 on Wednesday. The company has a market cap of $2.67 billion, a P/E ratio of 22.01 and a beta of 0.73. InterDigital Inc. has a 12 month low of $41.01 and a 12 month high of $79.97. The stock’s 50 day moving average is $74.91 and its 200-day moving average is $62.28.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The firm had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same period last year, the firm earned $0.89 earnings per share. The company’s quarterly revenue was down 36.0% on a year-over-year basis. On average, equities analysts forecast that InterDigital Inc. will post $5.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, October 7th. This is an increase from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. InterDigital’s dividend payout ratio (DPR) is currently 33.99%.
A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. B. Riley lowered shares of InterDigital from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Monday, September 26th. Barclays PLC boosted their target price on shares of InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 9th. Dougherty & Co lowered shares of InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 5th. Finally, Zacks Investment Research lowered shares of InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $78.33.
Several institutional investors have recently added to or reduced their stakes in IDCC. Vanguard Group Inc. increased its position in InterDigital by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,568,708 shares of the company’s stock worth $143,025,000 after buying an additional 31,587 shares in the last quarter. State Street Corp increased its position in InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock worth $60,710,000 after buying an additional 7,093 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock valued at $57,546,000 after buying an additional 13,188 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of InterDigital by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 878,844 shares of the company’s stock valued at $48,932,000 after buying an additional 4,785 shares during the period. Finally, Ulysses Management LLC increased its stake in shares of InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock valued at $27,547,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 69.14% of the company’s stock.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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