InterDigital (NASDAQ:IDCC) Stock Price Down 7.4% on Insider Selling

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) traded down 7.4% during trading on Tuesday following insider selling activity. The stock traded as low as $186.93 and last traded at $186.93. 227,074 shares were traded during mid-day trading, a decline of 40% from the average session volume of 377,113 shares. The stock had previously closed at $201.77.

Specifically, CTO Rajesh Pankaj sold 700 shares of the business'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 transaction, the chief technology officer now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Roth Mkm upped their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. StockNews.com lowered InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.

InterDigital Stock Down 7.3 %

The company has a market cap of $4.74 billion, a P/E ratio of 19.98, a PEG ratio of 0.95 and a beta of 1.44. The stock's 50-day moving average price is $188.35 and its 200-day moving average price is $153.43. 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 Announces Dividend

The business 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 $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, January 8th. InterDigital's dividend payout ratio (DPR) is presently 19.23%.

Hedge Funds Weigh In On InterDigital

Large investors have recently bought and sold shares of the stock. CWA Asset Management Group LLC increased its position in shares of InterDigital by 24.4% during the 4th quarter. CWA Asset Management Group LLC now owns 8,847 shares of the Wireless communications provider's stock valued at $1,714,000 after purchasing an additional 1,734 shares during the last quarter. GAMMA Investing LLC raised its position in InterDigital by 41.2% in the fourth quarter. GAMMA Investing LLC now owns 942 shares of the Wireless communications provider's stock worth $182,000 after acquiring an additional 275 shares during the period. Tidal Investments LLC boosted its stake in InterDigital by 13.1% in the third quarter. Tidal Investments LLC now owns 10,923 shares of the Wireless communications provider's stock valued at $1,547,000 after acquiring an additional 1,269 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of InterDigital during the 3rd quarter valued at approximately $1,511,000. Finally, Sanctuary Advisors LLC increased its stake in shares of InterDigital by 24.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,376 shares of the Wireless communications provider's stock worth $903,000 after purchasing an additional 1,265 shares during the last quarter. 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.