InterDigital, Inc. (NASDAQ:IDCC) Director Sells $346,800.00 in Stock

InterDigital, Inc. (NASDAQ:IDCC) Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

InterDigital Trading Down 1.5 %

NASDAQ IDCC opened at $136.81 on Thursday. The business’s fifty day moving average is $133.12 and its 200-day moving average is $117.19. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 0.88 and a beta of 1.39. InterDigital, Inc. has a one year low of $74.65 and a one year high of $141.00.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. Equities research analysts predict that InterDigital, Inc. will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.32%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. InterDigital’s dividend payout ratio is 26.47%.

Institutional Trading of InterDigital

Several hedge funds have recently made changes to their positions in IDCC. Wellington Management Group LLP increased its holdings in InterDigital by 16.1% in the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after acquiring an additional 10,926 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of InterDigital in the fourth quarter worth about $13,309,000. Trexquant Investment LP bought a new stake in shares of InterDigital in the fourth quarter valued at approximately $1,779,000. Norges Bank purchased a new stake in shares of InterDigital during the 4th quarter valued at approximately $18,987,000. Finally, Duality Advisers LP boosted its holdings in InterDigital by 1,380.5% in the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after buying an additional 30,137 shares during the period. 99.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd. Roth Mkm boosted their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

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.