InterDigital Inc. (NASDAQ:IDCC) insider William J. Merritt sold 5,000 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $78.35, for a total transaction of $391,750.00. Following the completion of the transaction, the insider now owns 136,072 shares of the company’s stock, valued at $10,661,241.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 78.36 on Thursday. InterDigital Inc. has a 1-year low of $41.01 and a 1-year high of $79.97. The company has a market capitalization of $2.68 billion, a P/E ratio of 22.17 and a beta of 0.73. The firm has a 50-day moving average of $75.17 and a 200 day moving average of $62.39.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to analysts’ expectations of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. InterDigital’s quarterly revenue was down 36.0% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. On average, analysts anticipate that InterDigital Inc. will post $5.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.53%. This is a boost from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is presently 33.99%.
A number of institutional investors have recently bought and sold shares of IDCC. Jacobs Levy Equity Management Inc. bought a new position in InterDigital during the first quarter valued at $779,000. Renaissance Technologies LLC boosted its position in shares of InterDigital by 48.0% in the first quarter. Renaissance Technologies LLC now owns 223,693 shares of the company’s stock worth $12,449,000 after buying an additional 72,500 shares during the last quarter. Hancock Holding Co. boosted its position in shares of InterDigital by 14.2% in the first quarter. Hancock Holding Co. now owns 15,396 shares of the company’s stock worth $857,000 after buying an additional 1,915 shares during the last quarter. UBS Group AG boosted its position in shares of InterDigital by 70.5% in the first quarter. UBS Group AG now owns 32,803 shares of the company’s stock worth $1,826,000 after buying an additional 13,566 shares during the last quarter. Finally, State Street Corp boosted its position in shares of InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock worth $60,710,000 after buying an additional 7,093 shares during the last quarter. 69.14% of the stock is owned by institutional investors.
Several research analysts recently issued reports on IDCC shares. B. Riley reiterated a “neutral” rating and issued a $80.00 target price on shares of InterDigital in a research report on Saturday, October 1st. Zacks Investment Research upgraded shares of InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price for the company in a research report on Saturday, August 6th. Dougherty & Co lowered shares of InterDigital from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 5th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $80.00 target price (up from $75.00) on shares of InterDigital in a research report on Friday, September 23rd. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.33.
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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