Insider Selling: InterDigital, Inc. (NASDAQ:IDCC) Insider Sells 350 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) insider Eeva K. Hakoranta sold 350 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the sale, the insider now owns 30,537 shares of the company’s stock, valued at $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

InterDigital Stock Down 2.6 %

IDCC stock opened at $211.40 on Friday. InterDigital, Inc. has a 12-month low of $95.33 and a 12-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 price-to-earnings ratio of 17.56, a PEG ratio of 1.57 and a beta of 1.44. The company has a 50 day moving average of $192.19 and a two-hundred day moving average of $169.13.

InterDigital Increases Dividend

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

Institutional Investors Weigh In On InterDigital

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

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report 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.