InterDigital (NASDAQ:IDCC) CTO Rajesh Pankaj Sells 1,000 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $375.31, for a total value of $375,310.00. Following the completion of the sale, the chief technology officer owned 64,157 shares in the company, valued at approximately $24,078,763.67. This represents a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 6th, Rajesh Pankaj sold 1,000 shares of InterDigital stock. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00.
• 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 transaction 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 Trading Down 1.3%

NASDAQ IDCC opened at $380.77 on Friday. InterDigital, Inc. has a 1 year low of $169.58 and a 1 year high of $412.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96. The company has a market capitalization of $9.80 billion, a PE ratio of 27.14, a P/E/G ratio of 1.88 and a beta of 1.45. The company has a fifty day moving average of $343.72 and a 200 day moving average of $269.04.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 0.7%. InterDigital’s dividend payout ratio is presently 18.89%.

Wall Street Analyst Weigh In

Several brokerages recently commented on IDCC. William Blair reissued an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research report on Tuesday, October 14th. Jefferies Financial Group set a $475.00 price target on shares of InterDigital and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Roth Capital raised their price target on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $412.50.

Hedge Funds Weigh In On InterDigital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Inspire Investing LLC raised its position in InterDigital by 37.9% in the first quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider’s stock valued at $3,148,000 after purchasing an additional 4,188 shares during the period. Bessemer Group Inc. lifted its stake in InterDigital by 6.1% during the 2nd quarter. Bessemer Group Inc. now owns 121,627 shares of the Wireless communications provider’s stock worth $27,273,000 after acquiring an additional 7,005 shares in the last quarter. Cerity Partners LLC boosted its holdings in InterDigital by 91.2% during the 1st quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider’s stock valued at $533,000 after acquiring an additional 1,229 shares during the period. Harbor Capital Advisors Inc. grew its position in InterDigital by 3.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider’s stock valued at $9,790,000 after acquiring an additional 1,502 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in InterDigital by 8.5% during the second quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider’s stock worth $3,462,000 after purchasing an additional 1,215 shares during the period. Institutional investors and hedge funds 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.