InterDigital, Inc. (IDCC) EVP Sells $38,250.00 in Stock

InterDigital, Inc. (NASDAQ:IDCC) EVP Scott A. Mcquilkin sold 500 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $76.50, for a total transaction of $38,250.00. Following the transaction, the executive vice president now owns 78,881 shares in the company, valued at approximately $6,034,396.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

InterDigital, Inc. (NASDAQ:IDCC) traded up $0.70 during midday trading on Friday, reaching $79.50. 11,381 shares of the company were exchanged, compared to its average volume of 360,267. The company has a market capitalization of $2,764.76, a PE ratio of 10.98 and a beta of 0.97. InterDigital, Inc. has a twelve month low of $67.55 and a twelve month high of $102.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.22 and a current ratio of 3.22.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.34. The business had revenue of $97.30 million for the quarter, compared to analysts’ expectations of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. The firm’s revenue for the quarter was down 53.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 earnings per share. equities analysts predict that InterDigital, Inc. will post 4.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.40 annualized dividend and a yield of 1.76%. InterDigital’s dividend payout ratio is 19.34%.

InterDigital announced that its Board of Directors has authorized a stock buyback program on Thursday, September 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the Wireless communications provider to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in InterDigital by 374.9% during the third quarter. Public Employees Retirement System of Ohio now owns 8,624 shares of the Wireless communications provider’s stock worth $636,000 after buying an additional 6,808 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of InterDigital by 81.4% during the third quarter. Janney Montgomery Scott LLC now owns 9,399 shares of the Wireless communications provider’s stock worth $693,000 after purchasing an additional 4,217 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of InterDigital by 3.4% during the third quarter. Cubist Systematic Strategies LLC now owns 24,420 shares of the Wireless communications provider’s stock worth $1,801,000 after purchasing an additional 802 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in shares of InterDigital during the third quarter worth approximately $2,934,000. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of InterDigital by 169.5% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 30,300 shares of the Wireless communications provider’s stock worth $2,234,000 after purchasing an additional 19,059 shares in the last quarter. 72.88% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of InterDigital from a “strong sell” rating to a “sell” rating in a report on Thursday. B. Riley reissued a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Wednesday. Zacks Investment Research cut shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, ValuEngine raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

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InterDigital Company Profile

InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.

Insider Buying and Selling by Quarter for InterDigital (NASDAQ:IDCC)

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