Key Points
- InterDigital CTO Rajesh Pankaj sold 1,500 shares for $461,070 at an average price of $307.38 under a pre-arranged Rule 10b5-1 plan; he retained 62,050 shares after the sale.
- InterDigital reported quarterly EPS of $3.11, beating the $1.34 consensus estimate, while revenue of $193.43 million also topped expectations and rose 17.4% year over year.
- The company increased its quarterly dividend from $0.70 to $0.75 per share, equivalent to $3.00 annually and a 1.1% yield.
InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) CTO Rajesh Pankaj sold 1,500 shares of the company's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $307.38, for a total transaction of $461,070.00. Following the transaction, the chief technology officer owned 62,050 shares in the company, valued at approximately $19,072,929. This trade represents a 2.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rajesh Pankaj also recently made the following trade(s):
- On Monday, October 5th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The shares were sold at an average price of $334.32, for a total value of $501,480.00.
- On Tuesday, September 8th, Rajesh Pankaj sold 1,500 shares of InterDigital stock. The stock was sold at an average price of $338.00, for a total transaction of $507,000.00.
InterDigital Trading Down 0.4%
NASDAQ IDCC opened at $285.28 on Friday. The stock has a 50-day moving average of $327.74 and a 200-day moving average of $317.91. The firm has a market cap of $7.35 billion, a PE ratio of 31.42 and a beta of 1.50. InterDigital, Inc. has a 1-year low of $249.14 and a 1-year high of $387.30. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01.
InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, October 29th. The Wireless communications provider reported $3.11 earnings per share for the quarter, beating the consensus estimate of $1.34 by $1.77. The company had revenue of $193.43 million during the quarter, compared to analysts' expectations of $152.97 million. InterDigital had a net margin of 38.53% and a return on equity of 28.34%. InterDigital's quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted $1.93 earnings per share. As a group, sell-side analysts forecast that InterDigital, Inc. will post 10.44 EPS for the current year.
InterDigital Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Wednesday, October 14th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.1%. This is a boost from InterDigital's previous quarterly dividend of $0.70. The ex-dividend date was Wednesday, October 14th. InterDigital's dividend payout ratio (DPR) is currently 33.04%.
Hedge Funds Weigh In On InterDigital
Large investors have recently modified their holdings of the business. Keybank National Association OH grew its position in shares of InterDigital by 4.5% during the 1st quarter. Keybank National Association OH now owns 704 shares of the Wireless communications provider's stock valued at $213,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC grew its position in shares of InterDigital by 1.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,081 shares of the Wireless communications provider's stock valued at $679,000 after purchasing an additional 38 shares during the period. IFP Advisors Inc lifted its stake in InterDigital by 3.7% in the second quarter. IFP Advisors Inc now owns 1,292 shares of the Wireless communications provider's stock valued at $366,000 after acquiring an additional 46 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in InterDigital by 4.3% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,243 shares of the Wireless communications provider's stock worth $405,000 after purchasing an additional 51 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of InterDigital by 1.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,436 shares of the Wireless communications provider's stock worth $1,944,000 after acquiring an additional 62 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have commented on IDCC shares. Zacks Research lowered shares of InterDigital from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. Weiss Ratings cut InterDigital from a "buy (b)" rating to a "hold (c+)" rating in a research note on Friday, October 30th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, InterDigital presently has a consensus rating of "Moderate Buy" and a consensus target price of $425.00.
Read Our Latest Analysis on IDCC
About InterDigital
(
Get Free Report)
InterDigital, Inc is a technology research and development company that creates advanced wireless, video and related connectivity technologies. Its work supports communications across cellular networks, including 4G and 5G, as well as Wi-Fi, the Internet of Things and other connected devices.
The company's primary business is developing intellectual property and licensing its patented technologies to manufacturers and other industry participants. Its portfolio includes innovations related to wireless communications, radio access networks, signal processing, video compression and delivery, and connected-device functionality.
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