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

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $103.87, for a total transaction 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 $6,701,380.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 transaction of $61,964.50.

InterDigital Price Performance

Shares of IDCC stock opened at $105.77 on Thursday. The firm’s 50-day moving average is $101.62 and its two-hundred day moving average is $101.31. InterDigital, Inc. has a 12 month low of $74.65 and a 12 month high of $119.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.67 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. Analysts predict that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IDCC. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America restated an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st.

Hedge Funds Weigh In On InterDigital

Hedge funds have recently modified their holdings of the business. Riverview Trust Co purchased a new stake in InterDigital in the 1st quarter valued at about $31,000. Palisade Asset Management LLC acquired a new position in shares of InterDigital in the 1st quarter worth approximately $64,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of InterDigital in the 3rd quarter worth approximately $68,000. Quadrant Capital Group LLC increased its holdings in InterDigital by 11.6% in the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock valued at $107,000 after purchasing an additional 103 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Company Profile

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.