InterDigital, Inc. (NASDAQ:IDCC – Get Free Report) CTO Rajesh Pankaj sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $324.88, for a total value of $487,320.00. Following the completion of the transaction, the chief technology officer owned 66,516 shares in the company, valued at approximately $21,609,718.08. The trade was a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rajesh Pankaj also recently made the following trade(s):
- On Monday, July 6th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The stock was sold at an average price of $286.00, for a total value of $429,000.00.
- On Thursday, June 11th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The stock was sold at an average price of $290.00, for a total value of $435,000.00.
- On Friday, June 5th, Rajesh Pankaj sold 750 shares of InterDigital stock. The shares were sold at an average price of $258.38, for a total value of $193,785.00.
InterDigital Price Performance
NASDAQ IDCC opened at $344.56 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.89 billion, a PE ratio of 39.74 and a beta of 1.43. InterDigital, Inc. has a 52 week low of $249.14 and a 52 week high of $412.60. The firm’s 50-day simple moving average is $277.69 and its two-hundred day simple moving average is $311.54.
InterDigital Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, July 8th. InterDigital’s payout ratio is currently 32.30%.
Analysts Set New Price Targets
A number of research firms have recently commented on IDCC. Weiss Ratings lowered InterDigital from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 12th. Zacks Research raised InterDigital from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, InterDigital presently has a consensus rating of “Buy” and a consensus price target of $416.67.
View Our Latest Stock Analysis on InterDigital
Hedge Funds Weigh In On InterDigital
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Keybank National Association OH lifted its holdings in shares of InterDigital by 4.5% in the 1st quarter. Keybank National Association OH now owns 704 shares of the Wireless communications provider’s stock worth $213,000 after acquiring an additional 30 shares during the last quarter. Amundi grew its holdings in shares of InterDigital by 0.3% during the 4th quarter. Amundi now owns 10,084 shares of the Wireless communications provider’s stock valued at $3,210,000 after purchasing an additional 30 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in InterDigital by 2.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 1,956 shares of the Wireless communications provider’s stock worth $623,000 after purchasing an additional 39 shares during the period. MGO One Seven LLC raised its position in InterDigital by 5.2% in the 4th quarter. MGO One Seven LLC now owns 835 shares of the Wireless communications provider’s stock worth $266,000 after purchasing an additional 41 shares during the period. Finally, J2 Capital Management Inc lifted its stake in InterDigital by 3.0% in the first quarter. J2 Capital Management Inc now owns 1,451 shares of the Wireless communications provider’s stock worth $438,000 after purchasing an additional 42 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
InterDigital Company Profile
InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.
The company’s principal services include patent licensing, technology evaluation and consulting.
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