InterDigital Inc. (NASDAQ:IDCC) insider William J. Merritt sold 5,000 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $78.35, for a total value of $391,750.00. Following the completion of the sale, the insider now owns 136,072 shares of the company’s stock, valued at $10,661,241.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
InterDigital Inc. (NASDAQ:IDCC) opened at 76.86 on Monday. The stock has a 50 day moving average price of $75.60 and a 200 day moving average price of $62.67. InterDigital Inc. has a 52-week low of $41.01 and a 52-week high of $79.97. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 21.74 and a beta of 0.73.
InterDigital (NASDAQ:IDCC) last posted its earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to analysts’ expectations of $76.60 million. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The firm’s quarterly revenue was down 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. On average, equities analysts expect that InterDigital Inc. will post $5.71 earnings per share for the current year.
The company 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 dividend of $0.30 per share. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ulysses Management LLC raised its position in 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in 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 in the last quarter. Aperio Group LLC purchased a new position in InterDigital during the first quarter valued at approximately $255,000. HL Financial Services LLC raised its position in 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 in the last quarter. Finally, Nomura Holdings Inc. raised its position in 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 in the last quarter. Institutional investors and hedge funds own 68.56% of the company’s stock.
Several equities research analysts have weighed in on IDCC shares. B. Riley reiterated a “neutral” rating and issued a $80.00 target price on shares of InterDigital in a report on Saturday, October 1st. Zacks Investment Research upgraded InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 target price for the company in a report on Saturday, August 6th. Dougherty & Co cut InterDigital from a “buy” rating to a “neutral” rating in a report on Wednesday, October 5th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $80.00 target price (up from $75.00) on shares of InterDigital in a report on Friday, September 23rd. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. InterDigital presently has an average rating of “Buy” and a consensus target price of $78.33.
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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