Insider Selling: InterDigital Inc. (IDCC) EVP Sells 2,010 Shares of Stock
InterDigital Inc. (NASDAQ:IDCC) EVP Jannie K. Lau sold 2,010 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $78.35, for a total value of $157,483.50. Following the transaction, the executive vice president now owns 14,244 shares in the company, valued at approximately $1,116,017.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
InterDigital Inc. (NASDAQ:IDCC) opened at 77.81 on Wednesday. The company has a market capitalization of $2.67 billion, a PE ratio of 22.01 and a beta of 0.73. InterDigital Inc. has a 52-week low of $41.01 and a 52-week high of $79.97. The company has a 50-day moving average price of $74.91 and a 200 day moving average price of $62.28.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.83. The business earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. Equities research analysts anticipate that InterDigital Inc. will post $5.71 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 12th will be paid a $0.30 dividend. The ex-dividend date is Friday, October 7th. This represents a $1.20 annualized dividend and a yield of 1.54%. This is an increase from InterDigital’s previous quarterly dividend of $0.20. InterDigital’s dividend payout ratio (DPR) is presently 33.99%.
Several research firms recently weighed in on IDCC. Barclays PLC restated an “equal weight” rating and issued a $80.00 price target (up previously from $75.00) on shares of InterDigital in a research note on Friday, September 23rd. B. Riley restated a “neutral” rating and issued a $80.00 price target on shares of InterDigital in a research note on Saturday, October 1st. Dougherty & Co downgraded InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 5th. Zacks Investment Research upgraded InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a research note on Saturday, August 6th. Finally, TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. InterDigital has a consensus rating of “Buy” and a consensus target price of $78.33.
A number of hedge funds have recently made changes to their positions in IDCC. Emerald Acquisition Ltd. purchased a new stake in shares of InterDigital during the second quarter valued at about $10,714,000. BNP Paribas Arbitrage SA increased its stake in shares of InterDigital by 208.0% in the second quarter. BNP Paribas Arbitrage SA now owns 271,756 shares of the company’s stock valued at $15,131,000 after buying an additional 183,532 shares during the last quarter. Nomura Holdings Inc. increased its stake in shares of InterDigital by 1,495.2% in the second quarter. Nomura Holdings Inc. now owns 143,660 shares of the company’s stock valued at $8,024,000 after buying an additional 134,654 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of InterDigital by 48.0% in the first quarter. Renaissance Technologies LLC now owns 223,693 shares of the company’s stock valued at $12,449,000 after buying an additional 72,500 shares during the last quarter. Finally, Fort L.P. increased its stake in shares of InterDigital by 38.1% in the second quarter. Fort L.P. now owns 248,977 shares of the company’s stock valued at $13,863,000 after buying an additional 68,648 shares during the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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