InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj Sells 700 Shares

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $204.13, for a total value of $142,891.00. Following the sale, the chief technology officer now directly owns 52,997 shares in the company, valued at $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

InterDigital Trading Down 7.3 %

IDCC stock opened at $187.05 on Wednesday. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $207.08. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.74 billion, a P/E ratio of 19.98, a PEG ratio of 0.95 and a beta of 1.44. The company’s 50-day simple moving average is $188.35 and its 200-day simple moving average is $153.43.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s payout ratio is currently 19.23%.

Wall Street Analyst Weigh In

Several analysts recently commented on IDCC shares. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Institutional Trading of InterDigital

A number of institutional investors and hedge funds have recently made changes to their positions in IDCC. Transcendent Capital Group LLC acquired a new stake in InterDigital in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new stake in shares of InterDigital in the third quarter valued at about $26,000. Nisa Investment Advisors LLC grew its position in shares of 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 period. GAMMA Investing LLC increased its stake in shares of InterDigital by 81.3% during 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 position in shares of InterDigital by 34.0% during the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 216 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.