Insider Selling: InterDigital (NASDAQ:IDCC) Director Sells 1,250 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) Director John Kritzmacher sold 1,250 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $360.63, for a total value of $450,787.50. Following the completion of the transaction, the director owned 19,565 shares in the company, valued at approximately $7,055,725.95. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

InterDigital Stock Performance

Shares of IDCC opened at $371.63 on Wednesday. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.88 and a beta of 1.45. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.02. InterDigital, Inc. has a 52-week low of $169.58 and a 52-week high of $412.60. The stock has a 50 day moving average price of $349.44 and a 200 day moving average price of $273.95.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date was Wednesday, October 8th. InterDigital’s payout ratio is presently 18.89%.

Hedge Funds Weigh In On InterDigital

A number of hedge funds have recently made changes to their positions in IDCC. Mesirow Financial Investment Management Inc. acquired a new position in shares of InterDigital during the 3rd quarter valued at $219,000. US Bancorp DE lifted its stake in shares of InterDigital by 20.3% in the third quarter. US Bancorp DE now owns 2,761 shares of the Wireless communications provider’s stock worth $953,000 after acquiring an additional 465 shares in the last quarter. Empirical Asset Management LLC purchased a new position in InterDigital in the third quarter valued at about $1,076,000. Jag Capital Management LLC purchased a new position in InterDigital in the third quarter valued at about $283,000. Finally, Cary Street Partners Financial LLC acquired a new stake in InterDigital during the 3rd quarter valued at approximately $3,342,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on IDCC. Roth Capital upped their price target on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 12th. William Blair reissued an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Weiss Ratings upgraded InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group set a $475.00 price objective on InterDigital and gave the stock a “buy” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $412.50.

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.