Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) Director Sells 2,005 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now directly owns 7,639 shares of the company’s stock, valued at $1,026,681.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

InterDigital Price Performance

InterDigital stock opened at $136.71 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.34 and a current ratio of 1.51. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.18 and a beta of 1.42. InterDigital, Inc. has a 1 year low of $74.65 and a 1 year high of $140.60. The firm has a 50 day moving average price of $124.49 and a 200 day moving average price of $112.12.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. InterDigital’s payout ratio is 23.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IDCC shares. Jefferies Financial Group restated a “hold” rating and set a $100.00 price objective (down previously from $106.00) on shares of InterDigital in a report on Monday, May 13th. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new position in shares of InterDigital in the 2nd quarter worth about $29,000. Riverview Trust Co purchased a new stake in shares of InterDigital during the 1st quarter worth about $31,000. GAMMA Investing LLC increased its position in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 124 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new position in InterDigital during the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

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.