Rajesh Pankaj Sells 650 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 650 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the transaction, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

InterDigital Price Performance

NASDAQ:IDCC traded up $0.13 on Tuesday, reaching $105.43. 1,102,266 shares of the company’s stock traded hands, compared to its average volume of 508,709. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $119.86. The stock has a 50-day simple moving average of $101.68 and a 200-day simple moving average of $101.08. The firm has a market cap of $2.66 billion, a PE ratio of 15.49, a P/E/G ratio of 0.85 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) 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 analysts’ expectations of $104.31 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. Equities research analysts forecast that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Announces Dividend

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

Analyst Ratings Changes

IDCC has been the topic of several recent research reports. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America reiterated an “underperform” rating and issued a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of InterDigital in the 1st quarter valued at about $341,000. Duality Advisers LP boosted its holdings in shares of InterDigital by 1,380.5% in the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after purchasing an additional 30,137 shares during the period. Gallacher Capital Management LLC bought a new position in shares of InterDigital during the 1st quarter valued at approximately $303,000. Texas Permanent School Fund Corp raised its holdings in InterDigital by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider’s stock valued at $2,395,000 after buying an additional 291 shares during the period. Finally, GSA Capital Partners LLP lifted its position in InterDigital by 25.0% in the first quarter. GSA Capital Partners LLP now owns 12,109 shares of the Wireless communications provider’s stock worth $1,289,000 after buying an additional 2,420 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

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.