Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CTO Sells 700 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $218.08, for a total transaction of $152,656.00. Following the sale, the chief technology officer now directly owns 71,606 shares of the company’s stock, valued at $15,615,836.48. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rajesh Pankaj also recently made the following trade(s):

• On Wednesday, February 5th, Rajesh Pankaj sold 700 shares of InterDigital stock. The stock was sold at an average price of $185.00, for a total transaction of $129,500.00.
• On Monday, January 6th, Rajesh Pankaj sold 700 shares of InterDigital stock. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00.

InterDigital Price Performance

Shares of NASDAQ IDCC traded down $1.06 during mid-day trading on Friday, reaching $218.08. 55,214 shares of the company were exchanged, compared to its average volume of 410,456. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $231.97. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $5.60 billion, a PE ratio of 18.05, a PEG ratio of 1.57 and a beta of 1.45. The company’s 50 day moving average price is $199.33 and its 200 day moving average price is $178.92.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, April 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

Hedge Funds Weigh In On InterDigital

A number of large investors have recently added to or reduced their stakes in the business. Boston Partners raised its position in InterDigital by 5.5% in the 4th quarter. Boston Partners now owns 1,619,545 shares of the Wireless communications provider’s stock worth $311,654,000 after purchasing an additional 83,794 shares during the period. Disciplined Growth Investors Inc. MN raised its position in 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 purchasing an additional 39,891 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in InterDigital by 3.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 612,851 shares of the Wireless communications provider’s stock worth $118,722,000 after purchasing an additional 21,319 shares during the period. Geode Capital Management LLC raised its position in InterDigital by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 594,745 shares of the Wireless communications provider’s stock worth $115,240,000 after purchasing an additional 1,991 shares during the period. Finally, Reinhart Partners LLC. raised its position in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after purchasing an additional 164,223 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

About InterDigital

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.