Joshua Schmidt Sells 466 Shares of InterDigital (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) insider Joshua Schmidt sold 466 shares of InterDigital stock in a transaction on Friday, October 31st. The stock was sold at an average price of $395.63, for a total transaction of $184,363.58. Following the sale, the insider directly owned 27,928 shares of the company’s stock, valued at $11,049,154.64. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

InterDigital Price Performance

Shares of NASDAQ IDCC traded down $10.39 during mid-day trading on Tuesday, reaching $386.15. 67,407 shares of the company were exchanged, compared to its average volume of 340,315. InterDigital, Inc. has a 52 week low of $164.29 and a 52 week high of $412.60. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $9.96 billion, a PE ratio of 27.68, a PEG ratio of 1.88 and a beta of 1.44. The company’s 50 day moving average price is $336.96 and its 200 day moving average price is $266.07.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Wednesday, October 8th. This is a boost from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s dividend payout ratio is 18.89%.

Hedge Funds Weigh In On InterDigital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Moran Wealth Management LLC increased its position in shares of InterDigital by 0.6% during the third quarter. Moran Wealth Management LLC now owns 4,751 shares of the Wireless communications provider’s stock valued at $1,640,000 after buying an additional 29 shares during the period. CoreCap Advisors LLC increased its position in shares of InterDigital by 15.6% during the third quarter. CoreCap Advisors LLC now owns 245 shares of the Wireless communications provider’s stock valued at $85,000 after buying an additional 33 shares during the period. Teacher Retirement System of Texas increased its position in shares of InterDigital by 0.4% during the second quarter. Teacher Retirement System of Texas now owns 11,388 shares of the Wireless communications provider’s stock valued at $2,554,000 after buying an additional 41 shares during the period. Creative Planning increased its position in shares of InterDigital by 0.3% during the second quarter. Creative Planning now owns 15,345 shares of the Wireless communications provider’s stock valued at $3,441,000 after buying an additional 46 shares during the period. Finally, Archer Investment Corp increased its position in shares of InterDigital by 4.3% during the third quarter. Archer Investment Corp now owns 1,117 shares of the Wireless communications provider’s stock valued at $386,000 after buying an additional 46 shares during the period. 99.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IDCC shares. Roth Capital lifted their target price on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Weiss Ratings upgraded shares of InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research report on Tuesday, October 14th. William Blair reiterated an “outperform” rating on shares of InterDigital in a research report on Monday, September 22nd. Finally, Jefferies Financial Group set a $475.00 price objective on shares of InterDigital and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $412.50.

InterDigital Company Profile

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.