InterDigital, Inc. (NASDAQ:IDCC) CTO Sells $67,515.50 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now directly owns 64,517 shares in the company, valued at $6,701,380.79. The sale was disclosed in a filing with the SEC, which is available through this link.

Rajesh Pankaj also recently made the following trade(s):

• On Friday, April 5th, Rajesh Pankaj sold 650 shares of InterDigital stock. The stock was sold at an average price of $95.33, for a total value of $61,964.50.

InterDigital Stock Performance

NASDAQ IDCC opened at $105.56 on Friday. The company has a market cap of $2.66 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.34 and a current ratio of 1.34. The business’s 50 day moving average price is $101.60 and its 200-day moving average price is $101.34. InterDigital, Inc. has a fifty-two week low of $74.65 and a fifty-two week high of $119.86.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $105.52 million for the quarter, compared to the consensus estimate of $104.31 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Sell-side analysts predict that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.52%. The ex-dividend date was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Hedge Funds Weigh In On InterDigital

Several hedge funds have recently bought and sold shares of IDCC. Brown Advisory Inc. grew its position in InterDigital by 0.8% in the 3rd quarter. Brown Advisory Inc. now owns 36,839 shares of the Wireless communications provider’s stock valued at $2,956,000 after acquiring an additional 299 shares during the last quarter. New York State Teachers Retirement System grew its position in InterDigital by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 28,634 shares of the Wireless communications provider’s stock valued at $2,298,000 after acquiring an additional 596 shares during the last quarter. Inspire Advisors LLC bought a new position in InterDigital in the 3rd quarter valued at $356,000. Inspire Investing LLC grew its position in shares of InterDigital by 17.9% during the 3rd quarter. Inspire Investing LLC now owns 3,839 shares of the Wireless communications provider’s stock worth $308,000 after buying an additional 582 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of InterDigital by 49.1% during the 3rd quarter. TD Asset Management Inc now owns 8,500 shares of the Wireless communications provider’s stock worth $682,000 after buying an additional 2,800 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IDCC. Bank of America reaffirmed an “underperform” rating and set a $100.00 price objective (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.