InterDigital (NASDAQ:IDCC) CTO Sells $375,310.00 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $375.31, for a total transaction of $375,310.00. Following the sale, the chief technology officer directly owned 64,157 shares of the company’s stock, valued at $24,078,763.67. This represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 6th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00.
• On Friday, September 5th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The stock was sold at an average price of $289.78, for a total transaction of $289,780.00.
• On Wednesday, August 20th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00.

InterDigital Price Performance

Shares of IDCC stock traded down $2.34 on Thursday, reaching $383.48. The company had a trading volume of 22,681 shares, compared to its average volume of 340,379. The stock has a market capitalization of $9.87 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a one year low of $169.58 and a one year high of $412.60. The business’s 50-day moving average is $341.58 and its 200 day moving average is $268.25.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a yield of 0.7%. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is currently 18.89%.

Institutional Trading of InterDigital

Several large investors have recently modified their holdings of the stock. Root Financial Partners LLC bought a new position in shares of InterDigital in the 3rd quarter worth $30,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of InterDigital in the 2nd quarter worth $28,000. Spire Wealth Management bought a new position in shares of InterDigital in the 3rd quarter worth $49,000. Global Wealth Strategies & Associates bought a new position in shares of InterDigital in the 2nd quarter worth $38,000. Finally, Headlands Technologies LLC bought a new position in shares of InterDigital in the 1st quarter worth $35,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analyst Ratings Changes

IDCC has been the subject of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Roth Capital increased their target price on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Jefferies Financial Group set a $475.00 target price on shares of InterDigital and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings raised shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $412.50.

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.