InterDigital (NASDAQ:IDCC) CTO Rajesh Pankaj Sells 1,500 Shares of Company Stock

Key Points

• InterDigital CTO Rajesh Pankaj sold 1,500 shares on November 5 at an average price of $307.38, totaling $461,070. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 62,050 shares.
• InterDigital reported quarterly EPS of $3.11, beating the $1.34 analyst estimate, while revenue of $193.43 million exceeded forecasts and rose 17.4% year over year.
• The company raised its quarterly dividend from $0.70 to $0.75 per share, equivalent to an annualized $3.00 and a 1.0% yield.

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 1,500 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $307.38, for a total transaction of $461,070.00. Following the sale, the chief technology officer owned 62,050 shares of the company's stock, valued at approximately $19,072,929. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rajesh Pankaj also recently made the following trade(s):

• On Monday, October 5th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The shares were sold at an average price of $334.32, for a total transaction of $501,480.00.
• On Tuesday, September 8th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The stock was sold at an average price of $338.00, for a total value of $507,000.00.

InterDigital Stock Performance

NASDAQ:IDCC opened at $286.53 on Friday. InterDigital, Inc. has a fifty-two week low of $249.14 and a fifty-two week high of $387.30. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.01. The stock has a market cap of $7.38 billion, a PE ratio of 31.56 and a beta of 1.50. The firm's fifty day simple moving average is $328.73 and its 200-day simple moving average is $318.11.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, October 29th. The Wireless communications provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $1.77. InterDigital had a return on equity of 28.34% and a net margin of 38.53%. The firm had revenue of $193.43 million for the quarter, compared to analyst estimates of $152.97 million. During the same quarter in the prior year, the company earned $1.93 EPS. InterDigital's revenue was up 17.4% on a year-over-year basis. Analysts expect that InterDigital, Inc. will post 10.44 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Wednesday, October 14th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.0%. This is a positive change from InterDigital's previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, October 14th. InterDigital's payout ratio is 33.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in InterDigital in the 2nd quarter valued at approximately $46,953,000. Royal Bank of Canada boosted its stake in shares of InterDigital by 375.7% during the 1st quarter. Royal Bank of Canada now owns 199,655 shares of the Wireless communications provider's stock valued at $60,297,000 after buying an additional 157,687 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of InterDigital during the 2nd quarter valued at $42,350,302. Arrowstreet Capital Limited Partnership boosted its stake in shares of InterDigital by 135.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 219,388 shares of the Wireless communications provider's stock valued at $66,255,000 after buying an additional 126,328 shares during the period. Finally, Summit Street Capital Management LLC purchased a new position in shares of InterDigital during the 2nd quarter valued at $18,163,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IDCC. Weiss Ratings downgraded shares of InterDigital from a "buy (b)" rating to a "hold (c+)" rating in a research report on Friday, October 30th. Zacks Research lowered shares of InterDigital from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $425.00.

InterDigital Company Profile

InterDigital, Inc is a technology research and development company that creates advanced wireless, video and related connectivity technologies. Its work supports communications across cellular networks, including 4G and 5G, as well as Wi-Fi, the Internet of Things and other connected devices.

The company's primary business is developing intellectual property and licensing its patented technologies to manufacturers and other industry participants. Its portfolio includes innovations related to wireless communications, radio access networks, signal processing, video compression and delivery, and connected-device functionality.

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