Robert S. Roath Sells 6,901 Shares of InterDigital Inc. (IDCC) Stock
InterDigital Inc. (NASDAQ:IDCC) Director Robert S. Roath sold 6,901 shares of the business’s stock in a transaction dated Wednesday, October 12th. The stock was sold at an average price of $77.34, for a total value of $533,723.34. Following the sale, the director now owns 15,967 shares in the company, valued at approximately $1,234,887.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 77.33 on Friday. The firm has a 50-day moving average price of $75.40 and a 200 day moving average price of $62.50. The stock has a market capitalization of $2.65 billion, a PE ratio of 21.88 and a beta of 0.73. InterDigital Inc. has a one year low of $41.01 and a one year high of $79.97.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.83. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The company 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 business posted $0.89 EPS. The company’s revenue was down 36.0% on a year-over-year basis. On average, equities analysts expect that InterDigital Inc. will post $5.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be paid a $0.30 dividend. This is an increase from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is 33.99%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of 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 during the period. LS Investment Advisors LLC increased its position 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 valued at $116,000 after buying an additional 885 shares during the period. Smith Asset Management Group LP increased its position 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 valued at $118,000 after buying an additional 2,100 shares during the period. Public Employees Retirement System of Ohio increased its position 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 valued at $120,000 after buying an additional 188 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of InterDigital during the second quarter valued at $189,000. Institutional investors own 69.14% of the company’s stock.
IDCC has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and set a $69.00 price target on shares of InterDigital in a research note on Wednesday, June 22nd. Zacks Investment Research lowered InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Finally, Barclays PLC boosted their price target on InterDigital from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 9th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. InterDigital currently has a consensus rating of “Buy” and an average target price of $78.33.
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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