InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj Sells 650 Shares

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the sale, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Rajesh Pankaj also recently made the following trade(s):

• On Friday, April 5th, Rajesh Pankaj sold 650 shares of InterDigital stock. The stock was sold at an average price of $95.33, for a total transaction of $61,964.50.

InterDigital Trading Up 0.1 %

Shares of IDCC traded up $0.13 during trading hours on Tuesday, reaching $105.43. The stock had a trading volume of 1,102,266 shares, compared to its average volume of 508,709. The company has a market cap of $2.66 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.85 and a beta of 1.35. InterDigital, Inc. has a 52 week low of $74.65 and a 52 week high of $119.86. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $101.68 and a 200 day moving average of $101.08.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $105.52 million during the quarter, compared to analyst estimates of $104.31 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. On average, sell-side analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, April 9th. InterDigital’s dividend payout ratio (DPR) is currently 23.53%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. raised its stake in shares of InterDigital by 0.8% during the 3rd quarter. Brown Advisory Inc. now owns 36,839 shares of the Wireless communications provider’s stock worth $2,956,000 after purchasing an additional 299 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of InterDigital by 2.1% in the 3rd quarter. New York State Teachers Retirement System now owns 28,634 shares of the Wireless communications provider’s stock valued at $2,298,000 after acquiring an additional 596 shares during the period. Inspire Advisors LLC acquired a new position in shares of InterDigital during the 3rd quarter worth about $356,000. Inspire Investing LLC lifted its stake in InterDigital by 17.9% in the 3rd quarter. Inspire Investing LLC now owns 3,839 shares of the Wireless communications provider’s stock valued at $308,000 after purchasing an additional 582 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in InterDigital by 49.1% in the third quarter. TD Asset Management Inc now owns 8,500 shares of the Wireless communications provider’s stock valued at $682,000 after buying an additional 2,800 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IDCC shares. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America reissued an “underperform” rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st.

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.