Insider Selling: InterDigital Inc. (IDCC) EVP Sells $157,483.50 in Stock
InterDigital Inc. (NASDAQ:IDCC) EVP Jannie K. Lau sold 2,010 shares of the company’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $78.35, for a total value of $157,483.50. Following the transaction, the executive vice president now directly owns 14,244 shares in the company, valued at $1,116,017.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 76.86 on Monday. InterDigital Inc. has a 1-year low of $41.01 and a 1-year high of $79.97. The stock’s 50 day moving average price is $75.60 and its 200 day moving average price is $62.67. The company has a market cap of $2.63 billion, a P/E ratio of 21.74 and a beta of 0.73.
InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.83. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The business had revenue of $75.90 million for the quarter, compared to analyst estimates of $76.60 million. During the same period last year, the company earned $0.89 EPS. The firm’s revenue was down 36.0% on a year-over-year basis. Equities research analysts forecast that InterDigital Inc. will post $5.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be given a $0.30 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Friday, October 7th. InterDigital’s dividend payout ratio (DPR) is currently 33.99%.
Several research analysts recently weighed in on IDCC shares. B. Riley reissued a “buy” rating and set a $69.00 price target on shares of InterDigital in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. TheStreet upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. Finally, Barclays PLC boosted their target price on InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 9th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. InterDigital has a consensus rating of “Buy” and an average target price of $78.33.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Ulysses Management LLC increased its stake in shares of InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock valued at $27,547,000 after buying an additional 20,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock valued at $57,546,000 after buying an additional 13,188 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of InterDigital during the first quarter valued at approximately $255,000. HL Financial Services LLC increased its stake in shares of InterDigital by 0.6% in the second quarter. HL Financial Services LLC now owns 4,755 shares of the company’s stock valued at $265,000 after buying an additional 27 shares during the last quarter. Finally, Nomura Holdings Inc. increased its stake in shares of InterDigital by 1,495.2% in the second quarter. Nomura Holdings Inc. now owns 143,660 shares of the company’s stock valued at $8,024,000 after buying an additional 134,654 shares during the last quarter. Institutional investors and hedge funds own 68.56% of the company’s stock.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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