InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen Sells 5,891 Shares

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CEO Lawrence Liren Chen sold 5,891 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the transaction, the chief executive officer now owns 158,652 shares of the company's stock, valued at approximately $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lawrence Liren Chen also recently made the following trade(s):

• On Wednesday, December 18th, Lawrence Liren Chen sold 5,891 shares of InterDigital stock. The shares were sold at an average price of $195.34, for a total transaction of $1,150,747.94.

InterDigital Price Performance

Shares of IDCC stock traded up $2.43 during midday trading on Thursday, reaching $194.52. 207,064 shares of the company were exchanged, compared to its average volume of 446,694. The company's 50 day moving average price is $181.07 and its two-hundred day moving average price is $148.55. The company has a market cap of $4.93 billion, a P/E ratio of 20.78, a PEG ratio of 0.81 and a beta of 1.44. InterDigital, Inc. has a 12 month low of $95.33 and a 12 month high of $203.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be given 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 0.93%. InterDigital's dividend payout ratio (DPR) is 19.23%.

Analyst Upgrades and Downgrades

Several brokerages have commented on IDCC. StockNews.com lowered shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Roth Mkm raised their target price on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th.

Hedge Funds Weigh In On InterDigital

Several hedge funds have recently modified their holdings of the company. Natixis Advisors LLC bought a new stake in InterDigital during the third quarter worth approximately $1,427,000. Kovitz Investment Group Partners LLC acquired a new position in shares of InterDigital in the 3rd quarter worth $380,000. Ritholtz Wealth Management raised its position in shares of InterDigital by 16.1% during the third quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider's stock worth $3,445,000 after purchasing an additional 3,381 shares during the period. Olympiad Research LP purchased a new stake in shares of InterDigital during the third quarter valued at $475,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at $568,000. 99.83% of the stock is currently owned by institutional investors and hedge funds.

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.