Insider Selling: InterDigital (NASDAQ:IDCC) CEO Sells $1,951,959.96 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,958 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $327.62, for a total value of $1,951,959.96. Following the transaction, the chief executive officer directly owned 153,077 shares in the company, valued at $50,151,086.74. The trade was a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Lawrence Liren Chen also recently made the following trade(s):

• On Tuesday, January 20th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The shares were sold at an average price of $303.77, for a total transaction of $903,715.75.
• On Tuesday, January 13th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The shares were sold at an average price of $310.82, for a total transaction of $924,689.50.
• On Tuesday, January 6th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The shares were sold at an average price of $334.08, for a total transaction of $993,888.00.
• On Tuesday, December 30th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $329.50, for a total transaction of $980,262.50.

InterDigital Price Performance

Shares of NASDAQ IDCC opened at $326.44 on Friday. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 22.03 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.89 and a current ratio of 1.89. InterDigital, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $412.60. The firm’s 50-day simple moving average is $333.33 and its 200 day simple moving average is $319.44.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, October 30th. The Wireless communications provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. InterDigital had a return on equity of 51.89% and a net margin of 53.50%.The firm had revenue of $164.68 million during the quarter, compared to analyst estimates of $153.43 million. During the same period in the previous year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, research analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, January 14th. This represents a $2.80 annualized dividend and a yield of 0.9%. InterDigital’s payout ratio is 18.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sigma Planning Corp raised its stake in InterDigital by 43.3% in the 4th quarter. Sigma Planning Corp now owns 8,321 shares of the Wireless communications provider’s stock valued at $2,649,000 after acquiring an additional 2,514 shares during the period. New York State Teachers Retirement System raised its position in shares of InterDigital by 5.3% in the fourth quarter. New York State Teachers Retirement System now owns 31,488 shares of the Wireless communications provider’s stock valued at $10,025,000 after purchasing an additional 1,598 shares during the period. Torren Management LLC purchased a new stake in shares of InterDigital during the 4th quarter valued at approximately $136,000. M&T Bank Corp lifted its stake in shares of InterDigital by 242.8% during the 4th quarter. M&T Bank Corp now owns 2,554 shares of the Wireless communications provider’s stock valued at $813,000 after buying an additional 1,809 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in InterDigital by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 1,956 shares of the Wireless communications provider’s stock worth $623,000 after buying an additional 39 shares during the period. Institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group set a $425.00 target price on InterDigital in a research note on Monday, December 1st. Roth Mkm reissued a “buy” rating on shares of InterDigital in a research report on Tuesday, January 20th. Weiss Ratings lowered InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, December 29th. Zacks Research cut InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $416.67.

InterDigital Company Profile

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.