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

Key Points

• InterDigital's CTO, Rajesh Pankaj, sold 1,000 shares at an average price of $289.78, reducing his ownership by 1.49% to a total of 66,122 shares valued at approximately $19.16 million.
• The company reported strong quarterly earnings, with $6.52 EPS, significantly exceeding analyst expectations of $2.77 and a year-over-year revenue increase of 34.5%.
• InterDigital declared a quarterly dividend of $0.60, reflecting an annualized rate of $2.40 and a dividend yield of 0.8%.

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $289.78, for a total value of $289,780.00. Following the transaction, the chief technology officer directly owned 66,122 shares of the company's stock, valued at approximately $19,160,833.16. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, August 20th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The shares were sold at an average price of $261.03, for a total value of $261,030.00.
• On Monday, July 7th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The shares were sold at an average price of $224.58, for a total value of $224,580.00.

InterDigital Stock Performance

Shares of NASDAQ:IDCC traded down $2.00 during trading on Friday, hitting $322.87. 332,310 shares of the company were exchanged, compared to its average volume of 324,595. The company has a market cap of $8.33 billion, a PE ratio of 23.01, a P/E/G ratio of 1.48 and a beta of 1.42. The stock has a 50 day moving average of $256.35 and a 200 day moving average of $227.50. InterDigital, Inc. has a 52-week low of $132.98 and a 52-week high of $327.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $3.75. The firm had revenue of $300.60 million for the quarter, compared to the consensus estimate of $167.93 million. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The business's quarterly revenue was up 34.5% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, equities research analysts predict that InterDigital, Inc. will post 9.21 EPS for the current year.

Institutional Investors Weigh In On InterDigital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised its position in shares of InterDigital by 22.8% in the second quarter. Osaic Holdings Inc. now owns 21,245 shares of the Wireless communications provider's stock worth $4,753,000 after buying an additional 3,949 shares in the last quarter. Orion Porfolio Solutions LLC raised its position in shares of InterDigital by 40.0% in the second quarter. Orion Porfolio Solutions LLC now owns 4,001 shares of the Wireless communications provider's stock worth $897,000 after buying an additional 1,144 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in shares of InterDigital in the second quarter worth $1,219,000. Public Sector Pension Investment Board raised its position in shares of InterDigital by 6.0% in the second quarter. Public Sector Pension Investment Board now owns 98,590 shares of the Wireless communications provider's stock worth $22,107,000 after buying an additional 5,574 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of InterDigital by 47.9% in the second quarter. Headlands Technologies LLC now owns 250 shares of the Wireless communications provider's stock worth $56,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

Analysts Set New Price Targets

Separately, Roth Capital increased their target price on InterDigital from $270.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $350.00.

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.