InterDigital, Inc. (NASDAQ:IDCC) CEO Sells $1,150,747.94 in Stock

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the transaction, the chief executive officer now directly owns 164,543 shares in the company, valued at $32,141,829.62. This represents a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

InterDigital Stock Up 0.2 %

Shares of IDCC traded up $0.46 during mid-day trading on Friday, reaching $189.43. 1,430,415 shares of the stock traded hands, compared to its average volume of 449,614. The stock has a fifty day simple moving average of $177.46 and a 200 day simple moving average of $145.93. InterDigital, Inc. has a 12-month low of $95.33 and a 12-month high of $203.90. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 0.81 and a beta of 1.44.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, January 8th. InterDigital's dividend payout ratio (DPR) is 19.23%.

Hedge Funds Weigh In On InterDigital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Transcendent Capital Group LLC purchased a new stake in shares of InterDigital during the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in InterDigital during the 3rd quarter worth approximately $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of InterDigital in the 2nd quarter valued at approximately $29,000. Nisa Investment Advisors LLC raised its position in shares of InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock valued at $46,000 after purchasing an additional 109 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of InterDigital by 81.3% during the 3rd quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider's stock valued at $94,000 after buying an additional 299 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.