Robert S. Roath Sells 6,901 Shares of InterDigital Inc. (IDCC) Stock
InterDigital Inc. (NASDAQ:IDCC) Director Robert S. Roath sold 6,901 shares of InterDigital stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $77.34, for a total value of $533,723.34. Following the completion of the transaction, the director now owns 15,967 shares in the company, valued at $1,234,887.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 77.33 on Friday. InterDigital Inc. has a 52-week low of $41.01 and a 52-week high of $79.97. The firm’s 50-day moving average price is $75.40 and its 200-day moving average price is $62.50. The stock has a market cap of $2.65 billion, a P/E ratio of 21.88 and a beta of 0.73.
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. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The business earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. During the same period last year, the company earned $0.89 earnings per share. InterDigital’s quarterly revenue was down 36.0% compared to the same quarter last year. On average, equities research analysts forecast that InterDigital Inc. will post $5.71 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. This is a positive change from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is currently 33.99%.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of InterDigital by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,568,708 shares of the company’s stock valued at $143,025,000 after buying an additional 31,587 shares in the last quarter. State Street Corp raised its stake in shares of InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock valued at $60,710,000 after buying an additional 7,093 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock valued at $57,546,000 after buying an additional 13,188 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of InterDigital by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 878,844 shares of the company’s stock valued at $48,932,000 after buying an additional 4,785 shares in the last quarter. Finally, Ulysses Management LLC raised its stake in shares of InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock valued at $27,547,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.
IDCC has been the topic of a number of analyst reports. B. Riley restated a “buy” rating and issued a $69.00 price target on shares of InterDigital in a research note on Monday, June 27th. Barclays PLC restated an “equal weight” rating and issued a $80.00 price target (up from $75.00) on shares of InterDigital in a research note on Friday, September 23rd. Finally, Zacks Investment Research downgraded InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $78.33.
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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