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

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the transaction, the chief technology officer now directly owns 52,396 shares in the company, valued at approximately $9,693,260. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• 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 Stock Down 4.9 %

Shares of NASDAQ IDCC traded down $10.44 during midday trading on Friday, reaching $201.36. The company’s stock had a trading volume of 145,380 shares, compared to its average volume of 379,421. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.08 and a beta of 1.44. The stock has a 50 day simple moving average of $188.57 and a 200-day simple moving average of $162.30. 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, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $213.38.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.89%. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Institutional Investors Weigh In On InterDigital

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of InterDigital by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,093 shares of the Wireless communications provider’s stock worth $1,643,000 after buying an additional 153 shares in the last quarter. Truist Financial Corp boosted its holdings in InterDigital by 1.5% in the second quarter. Truist Financial Corp now owns 22,149 shares of the Wireless communications provider’s stock valued at $2,582,000 after acquiring an additional 322 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in InterDigital during the second quarter valued at $596,000. SG Americas Securities LLC acquired a new position in InterDigital in the third quarter valued at approximately $417,000. Finally, Handelsbanken Fonder AB increased its position in InterDigital by 29.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,030 shares of the Wireless communications provider’s stock valued at $996,000 after buying an additional 1,600 shares in the last quarter. 99.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

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.