Rajesh Pankaj Sells 650 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 650 shares of the company's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the transaction, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

InterDigital Stock Performance

Shares of InterDigital stock traded up $0.09 during midday trading on Friday, hitting $95.87. The company had a trading volume of 334,908 shares, compared to its average volume of 504,106. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.77 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $105.28 and a 200 day simple moving average of $98.14. InterDigital, Inc. has a 12-month low of $66.82 and a 12-month high of $119.86.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. As a group, analysts predict that InterDigital, Inc. will post 7.13 earnings per share for the current fiscal year.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. InterDigital's payout ratio is currently 21.33%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on IDCC shares. StockNews.com cut shares of InterDigital from a "buy" rating to a "hold" rating in a report on Tuesday, March 19th. Bank of America reiterated an "underperform" rating and set a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday.

Institutional Trading of InterDigital

Several hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in InterDigital in the second quarter valued at approximately $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of InterDigital during the third quarter worth approximately $68,000. Quadrant Capital Group LLC grew its position in shares of InterDigital by 11.6% during the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider's stock worth $107,000 after acquiring an additional 103 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of InterDigital by 12.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider's stock worth $84,000 after acquiring an additional 114 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of InterDigital by 12.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider's stock worth $104,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds 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.