InterDigital, Inc. (NASDAQ:IDCC) CFO Sells $2,066,446.42 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the transaction, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. This represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

InterDigital Stock Down 1.5 %

IDCC traded down $3.28 during midday trading on Thursday, hitting $214.01. 58,996 shares of the company’s stock traded hands, compared to its average volume of 392,037. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $5.50 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. InterDigital, Inc. has a one year low of $95.33 and a one year high of $218.50. The stock’s fifty day simple moving average is $191.43 and its 200-day simple moving average is $168.04.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.12%. InterDigital’s dividend payout ratio is currently 14.95%.

Analysts Set New Price Targets

Separately, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Hedge Funds Weigh In On InterDigital

A number of institutional investors have recently modified their holdings of the company. Natixis Advisors LLC bought a new position in shares of InterDigital in the third quarter worth about $1,427,000. Flagship Harbor Advisors LLC bought a new stake in InterDigital in the 4th quarter valued at $338,000. Kovitz Investment Group Partners LLC bought a new stake in InterDigital in the third quarter valued at about $380,000. Reinhart Partners LLC. raised its holdings in shares of InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after buying an additional 164,223 shares in the last quarter. Finally, Olympiad Research LP acquired a new position in InterDigital during the third quarter worth $475,000. Institutional investors own 99.83% of the company’s stock.

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.