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

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the completion of the sale, the chief technology officer now owns 52,997 shares in the company, valued at approximately $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

InterDigital Stock Up 2.0 %

IDCC stock opened at $190.78 on Thursday. The firm has a market cap of $4.84 billion, a PE ratio of 20.38, a P/E/G ratio of 0.95 and a beta of 1.44. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $207.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a 50 day simple moving average of $189.21 and a 200 day simple moving average of $153.69.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

Institutional Investors Weigh In On InterDigital

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC purchased a new position in InterDigital in the 3rd quarter worth about $1,427,000. Kovitz Investment Group Partners LLC purchased a new position in shares of InterDigital in the third quarter worth approximately $380,000. Ritholtz Wealth Management increased its position in shares of InterDigital by 16.1% in the third quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after acquiring an additional 3,381 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of InterDigital during the third quarter valued at approximately $475,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of InterDigital in the 3rd quarter valued at approximately $568,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.