Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CEO Sells 5,891 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,891 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the sale, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. This represents a 3.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

InterDigital Trading Up 0.2 %

Shares of IDCC opened at $189.43 on Monday. The stock has a market capitalization of $4.80 billion, a P/E ratio of 20.24, a PEG ratio of 0.81 and a beta of 1.44. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $203.90. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $178.14 and a two-hundred day simple moving average of $146.67.

InterDigital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 annualized dividend and a dividend yield of 0.95%. InterDigital’s payout ratio is presently 19.23%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN grew its position in shares of InterDigital by 3.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after buying an additional 39,891 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in InterDigital by 51,337.0% in the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock valued at $86,635,000 after acquiring an additional 741,820 shares in the last quarter. Geode Capital Management LLC increased its position in InterDigital by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock valued at $83,968,000 after purchasing an additional 3,975 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in InterDigital by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after purchasing an additional 48,137 shares in the last quarter. Finally, Reinhart Partners LLC. purchased a new stake in shares of InterDigital in the 3rd quarter worth about $27,762,000. Institutional investors own 99.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IDCC. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Roth Mkm boosted their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Company Profile

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.