InterDigital (NASDAQ:IDCC) Stock: Insider Rajesh Pankaj Sells 1,500 Shares

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $307.38, for a total value of $461,070.00. Following the completion of the transaction, the chief technology officer owned 62,050 shares in the company, valued at $19,072,929. This represents a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The shares were sold at an average price of $334.32, for a total transaction of $501,480.00.
• On Tuesday, September 8th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The shares were sold at an average price of $338.00, for a total transaction of $507,000.00.

InterDigital Price Performance

NASDAQ IDCC opened at $286.53 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $7.38 billion, a PE ratio of 31.56 and a beta of 1.50. InterDigital, Inc. has a 12-month low of $249.14 and a 12-month high of $387.30. The company has a 50 day moving average price of $328.73 and a two-hundred day moving average price of $318.11.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 29th. The Wireless communications provider reported $3.11 EPS for the quarter, topping the consensus estimate of $1.34 by $1.77. The company had revenue of $193.43 million for the quarter, compared to analyst estimates of $152.97 million. InterDigital had a net margin of 38.53% and a return on equity of 28.34%. InterDigital’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 EPS. As a group, equities analysts predict that InterDigital, Inc. will post 10.44 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Wednesday, October 14th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This is a positive change from InterDigital’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.0%. InterDigital’s dividend payout ratio (DPR) is currently 33.04%.

Wall Street Analyst Weigh In

IDCC has been the subject of a number of analyst reports. Zacks Research cut InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Weiss Ratings downgraded InterDigital from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $425.00.

Institutional Trading of InterDigital

Several large investors have recently modified their holdings of IDCC. Bank of America Corp DE acquired a new position in InterDigital during the 2nd quarter worth $46,953,000. Royal Bank of Canada boosted its holdings in InterDigital by 375.7% during the first quarter. Royal Bank of Canada now owns 199,655 shares of the Wireless communications provider’s stock valued at $60,297,000 after acquiring an additional 157,687 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in InterDigital during the second quarter valued at about $42,350,302. Arrowstreet Capital Limited Partnership grew its position in shares of InterDigital by 135.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 219,388 shares of the Wireless communications provider’s stock valued at $66,255,000 after purchasing an additional 126,328 shares during the last quarter. Finally, Summit Street Capital Management LLC acquired a new stake in shares of InterDigital in the second quarter valued at about $18,163,000. 99.83% of the stock is owned by institutional investors.

About InterDigital

InterDigital, Inc is a technology research and development company that creates advanced wireless, video and related connectivity technologies. Its work supports communications across cellular networks, including 4G and 5G, as well as Wi-Fi, the Internet of Things and other connected devices.

The company’s primary business is developing intellectual property and licensing its patented technologies to manufacturers and other industry participants. Its portfolio includes innovations related to wireless communications, radio access networks, signal processing, video compression and delivery, and connected-device functionality.