InterDigital, Inc. (IDCC) EVP Sells $39,575.00 in Stock
InterDigital, Inc. (NASDAQ:IDCC) EVP Scott A. Mcquilkin sold 500 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $79.15, for a total value of $39,575.00. Following the sale, the executive vice president now directly owns 79,768 shares of the company’s stock, valued at approximately $6,313,637.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
InterDigital, Inc. (NASDAQ:IDCC) remained flat at $75.85 on Friday. The company had a trading volume of 171,909 shares. The firm’s 50 day moving average price is $82.02 and its 200 day moving average price is $87.19. InterDigital, Inc. has a 12-month low of $53.40 and a 12-month high of $102.30. The stock has a market capitalization of $2.63 billion, a PE ratio of 8.50 and a beta of 1.01.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, April 27th. The Wireless communications provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.22. The company had revenue of $94.53 million during the quarter, compared to analyst estimates of $92.90 million. InterDigital had a return on equity of 43.97% and a net margin of 48.22%. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. Equities analysts predict that InterDigital, Inc. will post $3.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Wednesday, July 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, July 10th. InterDigital’s dividend payout ratio is 13.47%.
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A number of large investors have recently bought and sold shares of the stock. Tyers Asset Management LLC raised its stake in InterDigital by 2.8% in the first quarter. Tyers Asset Management LLC now owns 1,168 shares of the Wireless communications provider’s stock valued at $101,000 after buying an additional 32 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of InterDigital by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the Wireless communications provider’s stock valued at $117,000 after buying an additional 640 shares during the period. Segantii Capital Management Ltd purchased a new stake in shares of InterDigital during the first quarter valued at about $129,000. Elkfork Partners LLC raised its stake in shares of InterDigital by 2.8% in the first quarter. Elkfork Partners LLC now owns 1,606 shares of the Wireless communications provider’s stock valued at $139,000 after buying an additional 44 shares during the period. Finally, Meadow Creek Investment Management LLC raised its stake in shares of InterDigital by 2.8% in the first quarter. Meadow Creek Investment Management LLC now owns 2,044 shares of the Wireless communications provider’s stock valued at $176,000 after buying an additional 56 shares during the period. 69.13% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research report on Tuesday, June 13th. Zacks Investment Research upgraded InterDigital from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine upgraded InterDigital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 25th. Benchmark Co. began coverage on InterDigital in a research note on Tuesday, April 25th. They set a “hold” rating for the company. Finally, BidaskClub cut InterDigital from a “sell” rating to a “strong sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $92.50.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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