InterDigital (NASDAQ:IDCC) Director Sells $450,787.50 in Stock

InterDigital, Inc. (NASDAQ:IDCC) Director John Kritzmacher sold 1,250 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $360.63, for a total value of $450,787.50. Following the completion of the sale, the director owned 19,565 shares of the company’s stock, valued at $7,055,725.95. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

InterDigital Price Performance

Shares of NASDAQ:IDCC opened at $371.63 on Wednesday. The firm’s 50 day simple moving average is $349.44 and its two-hundred day simple moving average is $273.95. InterDigital, Inc. has a 1-year low of $169.58 and a 1-year high of $412.60. The company has a market capitalization of $9.57 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.96.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were given a $0.70 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, October 8th. InterDigital’s dividend payout ratio (DPR) is presently 18.89%.

Analyst Ratings Changes

Several research analysts have commented on the stock. William Blair reaffirmed an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Weiss Ratings raised InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a report on Tuesday, October 14th. Roth Capital lifted their target price 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. Finally, Jefferies Financial Group set a $475.00 price target on shares of 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 stock. Based on data from MarketBeat.com, InterDigital currently has an average rating of “Buy” and an average target price of $412.50.

Hedge Funds Weigh In On InterDigital

Several hedge funds have recently bought and sold shares of the company. Moran Wealth Management LLC increased its stake in InterDigital by 0.6% during the 3rd quarter. Moran Wealth Management LLC now owns 4,751 shares of the Wireless communications provider’s stock worth $1,640,000 after buying an additional 29 shares during the period. CoreCap Advisors LLC raised its stake in shares of InterDigital by 15.6% in the third quarter. CoreCap Advisors LLC now owns 245 shares of the Wireless communications provider’s stock valued at $85,000 after acquiring an additional 33 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in InterDigital by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 11,388 shares of the Wireless communications provider’s stock valued at $2,554,000 after purchasing an additional 41 shares during the period. Creative Planning raised its position in InterDigital by 0.3% in the 2nd quarter. Creative Planning now owns 15,345 shares of the Wireless communications provider’s stock valued at $3,441,000 after purchasing an additional 46 shares in the last quarter. Finally, Archer Investment Corp boosted its stake in shares of InterDigital by 4.3% in the 3rd quarter. Archer Investment Corp now owns 1,117 shares of the Wireless communications provider’s stock valued at $386,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds 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.