Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CTO Sells 700 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total transaction of $142,891.00. Following the completion of the transaction, the chief technology officer now owns 52,997 shares in the company, valued at approximately $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

InterDigital Stock Down 7.3 %

Shares of IDCC stock traded down $14.72 on Tuesday, reaching $187.05. 475,449 shares of the company were exchanged, compared to its average volume of 440,760. The company has a 50-day moving average of $187.60 and a 200-day moving average of $152.94. InterDigital, Inc. has a one year low of $95.33 and a one year 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. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 0.95 and a beta of 1.44.

InterDigital Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a yield of 0.96%. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

Analyst Ratings Changes

Several research firms have weighed in on IDCC. Roth Mkm increased their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Institutional Investors Weigh In On InterDigital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new stake in shares of InterDigital during the third quarter worth about $1,427,000. Kovitz Investment Group Partners LLC bought a new stake in shares of InterDigital in the third quarter worth approximately $380,000. Ritholtz Wealth Management increased its position in InterDigital by 16.1% during the third quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock valued at $3,445,000 after acquiring an additional 3,381 shares during the last quarter. Olympiad Research LP bought a new position in shares of InterDigital in the third quarter worth about $475,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in InterDigital during the third quarter valued at approximately $568,000. 99.83% of the stock is currently owned by institutional investors.

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.