InterDigital, Inc. (NASDAQ:IDCC) CEO Sells $1,114,105.92 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the sale, the chief executive officer now owns 158,652 shares of the company’s stock, valued at approximately $30,004,266.24. This represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lawrence Liren Chen also recently made the following trade(s):

• On Wednesday, December 18th, Lawrence Liren Chen sold 5,891 shares of InterDigital stock. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94.

InterDigital Stock Performance

NASDAQ IDCC traded down $0.09 during trading hours on Thursday, reaching $192.00. The stock had a trading volume of 18,549 shares, compared to its average volume of 445,916. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $203.90. The stock has a fifty day moving average of $180.29 and a 200 day moving average of $148.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. The stock has a market cap of $4.87 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44.

InterDigital Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IDCC. Tidal Investments LLC boosted its position in InterDigital by 13.1% in the 3rd quarter. Tidal Investments LLC now owns 10,923 shares of the Wireless communications provider’s stock worth $1,547,000 after purchasing an additional 1,269 shares in the last quarter. World Investment Advisors LLC acquired a new stake in InterDigital during the third quarter valued at $1,511,000. Sanctuary Advisors LLC increased its holdings in InterDigital by 24.8% in the third quarter. Sanctuary Advisors LLC now owns 6,376 shares of the Wireless communications provider’s stock valued at $903,000 after buying an additional 1,265 shares in the last quarter. TD Private Client Wealth LLC raised its position in shares of InterDigital by 22.9% in the third quarter. TD Private Client Wealth LLC now owns 902 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 168 shares during the period. Finally, Chiron Investment Management LLC boosted its stake in shares of InterDigital by 138.4% during the 3rd quarter. Chiron Investment Management LLC now owns 2,272 shares of the Wireless communications provider’s stock worth $322,000 after acquiring an additional 1,319 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.