Insider Selling: InterDigital (NASDAQ:IDCC) CTO Sells 1,000 Shares of Stock

Key Points

• InterDigital's CTO, Rajesh Pankaj, sold 1,000 shares of the company's stock on October 6th for approximately $338,080, resulting in a 1.51% decrease in his holdings.
• The company's stock rose by 1.1% on Tuesday, reaching a price of $340.87, with a market capitalization of $8.79 billion.
• InterDigital recently announced an increase in its quarterly dividend from $0.60 to $0.70, with a pay date set for October 22nd.

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 1,000 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the sale, the chief technology officer owned 65,122 shares in the company, valued at approximately $22,016,445.76. The trade was a 1.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, September 5th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The shares were sold at an average price of $289.78, for a total value of $289,780.00.
• On Wednesday, August 20th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The stock was sold at an average price of $261.03, for a total transaction of $261,030.00.

InterDigital Stock Up 1.1%

Shares of IDCC stock traded up $3.55 on Tuesday, hitting $340.87. The stock had a trading volume of 250,139 shares, compared to its average volume of 342,850. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. The company has a market cap of $8.79 billion, a PE ratio of 24.30, a P/E/G ratio of 1.67 and a beta of 1.44. The business has a 50 day moving average price of $295.01 and a 200 day moving average price of $242.82. InterDigital, Inc. has a one year low of $143.31 and a one year high of $361.56.

InterDigital (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 EPS for the quarter, beating the consensus estimate of $2.77 by $3.75. The business had revenue of $300.60 million during the quarter, compared to analyst estimates of $167.93 million. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company's quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.57 earnings per share. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. Research analysts anticipate that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be paid a $0.70 dividend. This is a positive change from InterDigital's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. InterDigital's dividend payout ratio is 17.11%.

Hedge Funds Weigh In On InterDigital

Several large investors have recently modified their holdings of IDCC. Twin Peaks Wealth Advisors LLC bought a new position in InterDigital during the 2nd quarter worth $28,000. Wayfinding Financial LLC purchased a new stake in shares of InterDigital in the first quarter worth approximately $32,000. Banque Transatlantique SA acquired a new stake in InterDigital during the first quarter valued at $33,000. Headlands Technologies LLC acquired a new stake in InterDigital in the first quarter valued at approximately $35,000. Finally, Concord Wealth Partners acquired a new position in InterDigital during the first quarter worth $37,000. Institutional investors own 99.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on IDCC. Jefferies Financial Group reiterated a "hold" rating and issued a $340.00 target price on shares of InterDigital in a report on Monday, September 29th. William Blair reaffirmed an "outperform" rating on shares of InterDigital in a research report on Monday, September 22nd. Roth Capital lifted their target price on InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 12th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of InterDigital in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $345.00.

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.

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