Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CFO Sells 9,602 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CFO Richard Brezski sold 9,602 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the transaction, the chief financial officer now directly owns 102,555 shares of the company’s stock, valued at $22,070,861.55. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

InterDigital Trading Down 1.5 %

InterDigital stock traded down $3.28 during midday trading on Thursday, reaching $214.01. The stock had a trading volume of 58,996 shares, compared to its average volume of 392,037. The stock’s 50-day simple moving average is $191.43 and its 200 day simple moving average is $168.04. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $218.50.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors 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 annualized dividend and a dividend yield of 1.12%. InterDigital’s payout ratio is presently 14.95%.

Institutional Investors Weigh In On InterDigital

Several 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 valued at about $1,427,000. Flagship Harbor Advisors LLC bought a new stake in InterDigital in the fourth quarter valued at $338,000. Kovitz Investment Group Partners LLC bought a new position in InterDigital in the 3rd quarter worth approximately $380,000. Reinhart Partners LLC. increased its stake in InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after buying an additional 164,223 shares during the period. Finally, Olympiad Research LP bought a new position in InterDigital during the 3rd quarter valued at $475,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Analysts Set New Price Targets

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

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.