InterDigital, Inc. (NASDAQ:IDCC) CTO Sells $142,891.00 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now owns 52,997 shares in the company, valued at $10,818,277.61. The trade was a 1.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

InterDigital Stock Down 7.3 %

Shares of IDCC opened at $187.05 on Wednesday. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $207.08. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $188.35 and a two-hundred day simple moving average of $153.43. The company has a market capitalization of $4.74 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, January 8th. InterDigital’s payout ratio is currently 19.23%.

Hedge Funds Weigh In On InterDigital

Institutional investors and hedge funds have recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in InterDigital in the third quarter worth approximately $26,000. Nisa Investment Advisors LLC increased its stake in InterDigital by 58.8% during the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after acquiring an additional 233 shares during the last quarter. GAMMA Investing LLC raised its position in InterDigital by 81.3% in the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock valued at $94,000 after purchasing an additional 299 shares during the period. Finally, CWM LLC lifted its stake in shares of InterDigital by 34.0% in the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after purchasing an additional 216 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IDCC has been the topic of several research reports. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm increased 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.