Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) CFO Sells $2,066,446.42 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CFO Richard Brezski sold 9,602 shares of InterDigital stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the completion of the sale, the chief financial officer now owns 102,555 shares in the company, valued at approximately $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

InterDigital Stock Performance

InterDigital stock opened at $211.40 on Friday. The company’s 50-day moving average price is $192.19 and its 200-day moving average price is $169.13. InterDigital, Inc. has a twelve month low of $95.33 and a twelve month high of $218.76. 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 company has a market cap of $5.43 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. InterDigital’s payout ratio is 19.93%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Hedge Funds Weigh In On InterDigital

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in InterDigital by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider’s stock valued at $568,000 after purchasing an additional 51 shares during the last quarter. One Wealth Advisors LLC grew its holdings in InterDigital by 1.8% during the 4th quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock valued at $697,000 after purchasing an additional 64 shares during the last quarter. Savant Capital LLC grew its holdings in InterDigital by 2.8% during the 4th quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock valued at $461,000 after purchasing an additional 64 shares during the last quarter. Captrust Financial Advisors grew its holdings in InterDigital by 0.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock valued at $1,965,000 after purchasing an additional 68 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in InterDigital by 3.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider’s stock valued at $513,000 after buying an additional 83 shares during the period. 99.83% of the stock is currently owned by institutional investors.

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.