InterDigital (NASDAQ:IDCC) CEO Lawrence Liren Chen Sells 5,958 Shares

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,958 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $327.62, for a total value of $1,951,959.96. Following the sale, the chief executive officer directly owned 153,077 shares in the company, valued at $50,151,086.74. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Lawrence Liren Chen also recently made the following trade(s):

• On Tuesday, January 20th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $303.77, for a total value of $903,715.75.
• On Tuesday, January 13th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $310.82, for a total value of $924,689.50.
• On Tuesday, January 6th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $334.08, for a total transaction of $993,888.00.
• On Tuesday, December 30th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The shares were sold at an average price of $329.50, for a total transaction of $980,262.50.

InterDigital Stock Down 0.5%

IDCC stock opened at $331.92 on Thursday. InterDigital, Inc. has a one year low of $177.00 and a one year high of $412.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.89 and a current ratio of 1.89. The firm’s fifty day moving average is $333.29 and its 200 day moving average is $318.66. The firm has a market cap of $8.55 billion, a PE ratio of 22.40 and a beta of 1.57.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.14. InterDigital had a net margin of 53.50% and a return on equity of 51.89%. The business had revenue of $164.68 million for the quarter, compared to analyst estimates of $153.43 million. During the same period in the prior year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, January 14th. InterDigital’s dividend payout ratio is 18.89%.

Analyst Ratings Changes

IDCC has been the subject of several recent research reports. UBS Group set a $425.00 price objective on InterDigital in a research note on Monday, December 1st. Roth Mkm reaffirmed a “buy” rating on shares of InterDigital in a report on Tuesday, January 20th. Weiss Ratings downgraded shares of InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. Jefferies Financial Group set a $475.00 price objective on shares of InterDigital and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Zacks Research downgraded shares of InterDigital from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $416.67.

Institutional Investors Weigh In On InterDigital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in shares of InterDigital during the 3rd quarter worth about $30,000. Aster Capital Management DIFC Ltd boosted its stake in InterDigital by 186.8% during the third quarter. Aster Capital Management DIFC Ltd now owns 109 shares of the Wireless communications provider’s stock worth $38,000 after buying an additional 71 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of InterDigital during the second quarter valued at about $28,000. Financial Consulate Inc. purchased a new stake in shares of InterDigital in the 4th quarter valued at approximately $41,000. Finally, Spire Wealth Management acquired a new position in shares of InterDigital in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

About InterDigital

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.