Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CEO Sells 5,891 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the transaction, the chief executive officer now owns 158,652 shares of the company’s stock, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 18th, Lawrence Liren Chen sold 5,891 shares of InterDigital stock. The stock was sold at an average price of $195.34, for a total value of $1,150,747.94.

InterDigital Stock Down 0.0 %

Shares of IDCC stock traded down $0.09 during mid-day trading on Thursday, hitting $192.00. The stock had a trading volume of 18,549 shares, compared to its average volume of 445,916. The firm has a market capitalization of $4.87 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $203.90. The firm’s 50-day moving average is $180.29 and its two-hundred day moving average is $148.23.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm upped their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new position in shares of InterDigital in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in InterDigital during the third quarter valued at about $26,000. Nisa Investment Advisors LLC grew its stake in InterDigital by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock valued at $89,000 after purchasing an additional 233 shares during the last quarter. GAMMA Investing LLC raised its holdings in InterDigital by 81.3% in the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock worth $94,000 after purchasing an additional 299 shares in the last quarter. Finally, CWM LLC raised its holdings in InterDigital by 34.0% in the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

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.