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

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total transaction of $129,500.00. Following the completion of the sale, the chief technology officer now directly owns 52,396 shares in the company, valued at approximately $9,693,260. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rajesh Pankaj also recently made the following trade(s):

• On Monday, January 6th, Rajesh Pankaj sold 700 shares of InterDigital stock. The shares were sold at an average price of $204.13, for a total transaction of $142,891.00.

InterDigital Trading Down 0.1 %

Shares of NASDAQ:IDCC traded down $0.25 during mid-day trading on Tuesday, hitting $206.81. The company had a trading volume of 287,419 shares, compared to its average volume of 400,476. The firm has a fifty day moving average price of $188.95 and a 200 day moving average price of $164.04. InterDigital, Inc. has a one year low of $95.33 and a one year high of $213.38. The company has a market capitalization of $5.24 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.70 and a quick ratio of 1.62.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. This is a positive change from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital's payout ratio is presently 14.95%.

Institutional Investors Weigh In On InterDigital

A number of hedge funds have recently added to or reduced their stakes in the company. Natixis Advisors LLC bought a new position in shares of InterDigital in the 3rd quarter worth $1,427,000. Flagship Harbor Advisors LLC bought a new position in shares of InterDigital in the fourth quarter valued at $338,000. Reinhart Partners LLC. grew its holdings in shares of InterDigital by 83.8% during the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after buying an additional 164,223 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of InterDigital during the third quarter worth about $380,000. Finally, Ritholtz Wealth Management raised its holdings in shares of InterDigital by 16.1% in the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider's stock worth $3,445,000 after acquiring an additional 3,381 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered InterDigital from a "buy" rating to a "hold" rating in a research report 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.