InterDigital Inc. (IDCC) EVP Jannie K. Lau Sells 2,010 Shares of Stock
InterDigital Inc. (NASDAQ:IDCC) EVP Jannie K. Lau sold 2,010 shares of InterDigital stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $78.35, for a total transaction of $157,483.50. Following the completion of the transaction, the executive vice president now owns 14,244 shares of the company’s stock, valued at approximately $1,116,017.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 78.36 on Thursday. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 22.17 and a beta of 0.73. The firm’s 50-day moving average is $75.17 and its 200 day moving average is $62.39. InterDigital Inc. has a 12 month low of $41.01 and a 12 month high of $79.97.
InterDigital (NASDAQ:IDCC) last released its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. Equities analysts expect that InterDigital Inc. will post $5.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.53%. This is a positive change from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, October 7th. InterDigital’s dividend payout ratio is currently 33.99%.
A number of large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in InterDigital by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,801 shares of the company’s stock valued at $100,000 after buying an additional 784 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of InterDigital by 73.8% in the second quarter. LS Investment Advisors LLC now owns 2,084 shares of the company’s stock worth $116,000 after buying an additional 885 shares during the period. Smith Asset Management Group LP raised its stake in shares of InterDigital by 8,400.0% in the second quarter. Smith Asset Management Group LP now owns 2,125 shares of the company’s stock worth $118,000 after buying an additional 2,100 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of InterDigital by 9.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,163 shares of the company’s stock worth $120,000 after buying an additional 188 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of InterDigital during the second quarter worth about $189,000. 69.14% of the stock is owned by institutional investors.
Several equities analysts recently commented on IDCC shares. B. Riley reaffirmed a “buy” rating and set a $69.00 price objective on shares of InterDigital in a research note on Wednesday, June 22nd. Zacks Investment Research cut shares of InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Finally, Barclays PLC boosted their price objective 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. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. InterDigital presently has a consensus rating of “Buy” and an average price target of $78.33.
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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