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

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred 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 owns 64,517 shares of the company’s stock, valued at approximately $6,701,380.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Stock Performance

Shares of IDCC stock opened at $105.43 on Wednesday. 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 stock has a fifty day moving average of $101.64 and a 200 day moving average of $101.28. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 15.50, a PEG 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.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. The firm had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. As a group, research analysts expect that InterDigital, Inc. will post 7.02 earnings per share for the current year.

InterDigital Announces Dividend

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

Institutional Investors Weigh In On InterDigital

Several hedge funds have recently made changes to their positions in IDCC. International Assets Investment Management LLC purchased a new stake in shares of InterDigital in the 4th quarter worth about $9,012,000. Qube Research & Technologies Ltd boosted its position in shares of InterDigital by 125.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 58,915 shares of the Wireless communications provider’s stock worth $4,727,000 after purchasing an additional 32,750 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of InterDigital by 220.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after buying an additional 792,868 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in InterDigital by 1,119.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,121 shares of the Wireless communications provider’s stock valued at $226,000 after buying an additional 1,947 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. raised its stake in InterDigital by 69.4% during the third quarter. Hussman Strategic Advisors Inc. now owns 26,250 shares of the Wireless communications provider’s stock valued at $2,106,000 after buying an additional 10,750 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IDCC. Bank of America reissued an “underperform” rating and issued a $100.00 price target (down previously from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday.

About InterDigital

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.