Rajesh Pankaj Sells 700 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares in the company, valued at approximately $10,818,277.61. This trade represents a 1.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

InterDigital Stock Up 2.0 %

Shares of InterDigital stock opened at $190.78 on Thursday. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 0.95 and a beta of 1.44. The stock has a 50-day simple moving average of $189.21 and a 200-day simple moving average of $153.69. InterDigital, Inc. has a 52-week low of $95.33 and a 52-week high of $207.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

Analysts Set New Price Targets

IDCC has been the topic of several research reports. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IDCC. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in InterDigital during the third quarter valued at about $26,000. Nisa Investment Advisors LLC lifted its position in shares of InterDigital by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after buying an additional 233 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of InterDigital by 81.3% during the 3rd quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock worth $94,000 after acquiring an additional 299 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of InterDigital by 34.0% during the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 216 shares during the last quarter. 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.