InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 650 shares of the business's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the sale, the chief technology officer now directly owns 64,939 shares of the company's stock, valued at $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
InterDigital Trading Up 0.1 %
NASDAQ IDCC opened at $95.87 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $2.44 billion, a PE ratio of 12.78, a P/E/G ratio of 0.77 and a beta of 1.34. InterDigital, Inc. has a one year low of $66.82 and a one year high of $119.86. The firm's fifty day moving average is $105.28 and its two-hundred day moving average is $98.14.
InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. The company had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. Analysts expect that InterDigital, Inc. will post 7.13 earnings per share for the current year.
InterDigital Announces Dividend
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.67%. InterDigital's dividend payout ratio is currently 21.33%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on IDCC. StockNews.com lowered shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Bank of America restated an "underperform" rating and issued a $100.00 price objective (down from $140.00) on shares of InterDigital in a research note on Monday, April 1st.
Get Our Latest Stock Report on InterDigital
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in IDCC. Pacer Advisors Inc. raised its holdings in InterDigital by 220.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider's stock worth $125,014,000 after purchasing an additional 792,868 shares in the last quarter. Norges Bank purchased a new position in InterDigital during the fourth quarter worth about $14,439,000. Marshall Wace LLP purchased a new position in InterDigital during the second quarter worth about $16,076,000. Crossmark Global Holdings Inc. purchased a new position in InterDigital during the fourth quarter worth about $13,309,000. Finally, Two Sigma Investments LP purchased a new position in InterDigital during the first quarter worth about $6,199,000. 99.83% of the stock is owned by hedge funds and other institutional investors.
InterDigital Company Profile
(
Get Free Report)
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.
Further Reading
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