InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen Sells 5,891 Shares

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,891 shares of InterDigital stock in a transaction 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 sale, the chief executive officer now owns 164,543 shares in the company, valued at $32,141,829.62. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

InterDigital Trading Down 0.7 %

Shares of IDCC traded down $1.25 during mid-day trading on Friday, reaching $187.72. The company’s stock had a trading volume of 532,196 shares, compared to its average volume of 445,629. InterDigital, Inc. has a 52 week low of $95.33 and a 52 week high of $203.90. The stock has a market cap of $4.76 billion, a PE ratio of 20.06, a P/E/G ratio of 0.81 and a beta of 1.44. The company’s fifty day moving average price is $177.46 and its two-hundred day moving average price is $145.93. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a yield of 0.96%. InterDigital’s dividend payout ratio is currently 19.23%.

Analyst Ratings Changes

IDCC has been the topic of several recent research reports. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

Hedge Funds Weigh In On InterDigital

Hedge funds have recently modified their holdings of the company. Natixis Advisors LLC purchased a new stake in InterDigital in the third quarter worth about $1,427,000. Kovitz Investment Group Partners LLC purchased a new position in InterDigital in the 3rd quarter worth approximately $380,000. Ritholtz Wealth Management increased its holdings in shares of InterDigital by 16.1% in the 3rd quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after purchasing an additional 3,381 shares in the last quarter. Olympiad Research LP bought a new stake in shares of InterDigital in the 3rd quarter worth $475,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of InterDigital in the third quarter worth $568,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

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.