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 stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the completion of the sale, the chief technology officer now owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

InterDigital Stock Down 7.3 %

Shares of IDCC stock traded down $14.72 on Tuesday, hitting $187.05. 475,449 shares of the stock were exchanged, compared to its average volume of 440,760. The firm has a market capitalization of $4.74 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $207.08. The business has a 50-day moving average of $187.60 and a 200 day moving average of $152.94. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.96%. InterDigital’s dividend payout ratio is 19.23%.

Wall Street Analysts Forecast Growth

IDCC has been the topic of a number of research analyst reports. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in shares of InterDigital by 10.3% in the second quarter. Victory Capital Management Inc. now owns 27,757 shares of the Wireless communications provider’s stock valued at $3,235,000 after buying an additional 2,595 shares in the last quarter. Caprock Group LLC acquired a new position in shares of InterDigital during the 2nd quarter worth about $338,000. Quest Partners LLC raised its holdings in shares of InterDigital by 326.2% in the 2nd quarter. Quest Partners LLC now owns 19,470 shares of the Wireless communications provider’s stock valued at $2,269,000 after purchasing an additional 14,902 shares during the period. PFG Investments LLC grew its holdings in InterDigital by 4.9% during the second quarter. PFG Investments LLC now owns 17,575 shares of the Wireless communications provider’s stock worth $2,048,000 after purchasing an additional 820 shares during the period. Finally, Choreo LLC acquired a new position in InterDigital during the second quarter worth approximately $214,000. 99.83% of the stock is owned by institutional investors and hedge funds.

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.