InterDigital Inc. (NASDAQ:IDCC) Director Robert S. Roath sold 6,901 shares of the stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $77.34, for a total value of $533,723.34. Following the completion of the sale, the director now owns 15,967 shares in the company, valued at $1,234,887.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
InterDigital Inc. (NASDAQ:IDCC) opened at 77.65 on Tuesday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 21.97 and a beta of 0.73. The firm’s 50 day moving average price is $75.83 and its 200 day moving average price is $62.94. InterDigital Inc. has a one year low of $41.01 and a one year high of $79.97.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The company earned $75.90 million during the quarter, compared to analysts’ expectations of $76.60 million. During the same period in the previous year, the company earned $0.89 EPS. The business’s quarterly revenue was down 36.0% compared to the same quarter last year. Equities analysts forecast that InterDigital Inc. will post $5.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 7th. This is a boost from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 1.55%. InterDigital’s payout ratio is currently 33.99%.
Several equities analysts recently commented on IDCC shares. Barclays PLC increased their target price on InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 9th. Dougherty & Co lowered InterDigital from a “buy” rating to a “neutral” rating in a report on Wednesday, October 5th. TheStreet raised InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Zacks Investment Research raised InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price on the stock in a report on Saturday, August 6th. Finally, B. Riley reissued a “neutral” rating and issued a $80.00 target price on shares of InterDigital in a report on Saturday, October 1st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.33.
Hedge funds have recently made changes to their positions in the stock. HL Financial Services LLC raised its position in InterDigital by 0.6% in the second quarter. HL Financial Services LLC now owns 4,755 shares of the company’s stock valued at $265,000 after buying an additional 27 shares during the last quarter. BlackRock Advisors LLC raised its position in InterDigital by 0.3% in the second quarter. BlackRock Advisors LLC now owns 16,541 shares of the company’s stock valued at $921,000 after buying an additional 52 shares during the last quarter. Legal & General Group Plc raised its position in InterDigital by 0.9% in the second quarter. Legal & General Group Plc now owns 9,255 shares of the company’s stock valued at $509,000 after buying an additional 81 shares during the last quarter. ClariVest Asset Management LLC raised its position in InterDigital by 0.4% in the second quarter. ClariVest Asset Management LLC now owns 40,864 shares of the company’s stock valued at $2,274,000 after buying an additional 171 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in InterDigital by 9.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,163 shares of the company’s stock valued at $120,000 after buying an additional 188 shares during the last quarter. 68.56% of the stock is owned by institutional investors.
InterDigital Company Profile
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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