Rajesh Pankaj Sells 700 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 700 shares of the firm's stock in a transaction dated 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 directly owns 52,997 shares of the company's stock, valued at approximately $10,818,277.61. The trade was a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

InterDigital Stock Down 7.3 %

Shares of IDCC stock traded down $14.72 during mid-day trading on Tuesday, hitting $187.05. The stock had a trading volume of 475,566 shares, compared to its average volume of 440,788. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month 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 firm's 50-day moving average is $188.35 and its two-hundred day moving average is $153.43. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IDCC shares. Roth Mkm lifted 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. StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.

Hedge Funds Weigh In On InterDigital

A number of hedge funds and other institutional investors have recently modified their holdings of IDCC. Victory Capital Management Inc. boosted its position in InterDigital by 10.3% during the 2nd quarter. Victory Capital Management Inc. now owns 27,757 shares of the Wireless communications provider's stock valued at $3,235,000 after acquiring an additional 2,595 shares in the last quarter. Caprock Group LLC bought a new stake in InterDigital during the second quarter valued at about $338,000. Quest Partners LLC grew its stake in InterDigital by 326.2% in the second 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 last quarter. PFG Investments LLC grew its stake in InterDigital by 4.9% in the second quarter. PFG Investments LLC now owns 17,575 shares of the Wireless communications provider's stock valued at $2,048,000 after purchasing an additional 820 shares during the last quarter. Finally, Choreo LLC bought a new position in InterDigital in the second quarter worth about $214,000. 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.