InterDigital Inc. (NASDAQ:IDCC) Director Robert S. Roath sold 6,901 shares of InterDigital stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $77.34, for a total value of $533,723.34. Following the completion of the transaction, the director now owns 15,967 shares in the company, valued at $1,234,887.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 76.86 on Monday. The firm has a market cap of $2.63 billion, a PE ratio of 21.74 and a beta of 0.73. InterDigital Inc. has a 12 month low of $41.01 and a 12 month high of $79.97. The firm’s 50-day moving average price is $75.60 and its 200-day moving average price is $62.67.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.83. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The company had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $76.60 million. During the same period in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was down 36.0% compared to the same quarter last year. 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. Shareholders of record on Wednesday, October 12th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. This is a boost from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. InterDigital’s dividend payout ratio is 33.99%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDCC. Vanguard Group Inc. boosted its position in InterDigital by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,568,708 shares of the company’s stock worth $143,025,000 after buying an additional 31,587 shares during the period. State Street Corp boosted its position in InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock worth $60,710,000 after buying an additional 7,093 shares during the period. BlackRock Institutional Trust Company N.A. boosted 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 worth $57,546,000 after buying an additional 13,188 shares during the period. Dimensional Fund Advisors LP boosted its position in InterDigital by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 878,844 shares of the company’s stock worth $48,932,000 after buying an additional 4,785 shares during the period. Finally, Ulysses Management LLC boosted its position in InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock worth $27,547,000 after buying an additional 20,000 shares during the period. Institutional investors own 68.56% of the company’s stock.
IDCC has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and issued a $69.00 price target on shares of InterDigital in a report on Wednesday, June 22nd. Zacks Investment Research cut InterDigital from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. TheStreet raised InterDigital from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC raised their price objective on InterDigital from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 9th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. InterDigital presently has a consensus rating of “Buy” and an average price target 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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