InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj Sells 700 Shares

InterDigital, Inc. (NASDAQ:IDCC) CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $181.03, for a total transaction of $126,721.00. Following the sale, the chief technology officer now directly owns 78,161 shares in the company, valued at approximately $14,149,485.83. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, March 20th, Rajesh Pankaj sold 700 shares of InterDigital stock. The shares were sold at an average price of $218.08, for a total value of $152,656.00.
• On Wednesday, February 5th, Rajesh Pankaj sold 700 shares of InterDigital stock. The stock was sold at an average price of $185.00, for a total value of $129,500.00.

InterDigital Stock Up 2.3 %

Shares of IDCC traded up $4.39 during trading hours on Monday, reaching $195.70. The company’s stock had a trading volume of 579,961 shares, compared to its average volume of 416,259. 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 firm has a market cap of $5.03 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 1.57 and a beta of 1.44. The company has a 50 day moving average of $207.18 and a two-hundred day moving average of $185.51. InterDigital, Inc. has a 1-year low of $95.36 and a 1-year high of $231.97.

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 paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio (DPR) is 19.93%.

Hedge Funds Weigh In On InterDigital

A number of hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Elequin Capital LP bought a new stake in shares of InterDigital in the 4th quarter valued at approximately $29,000. Prudent Man Investment Management Inc. acquired a new position in InterDigital in the fourth quarter worth approximately $39,000. Versant Capital Management Inc raised its position in InterDigital by 957.9% during the first quarter. Versant Capital Management Inc now owns 201 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 182 shares in the last quarter. Finally, Mendota Financial Group LLC lifted its stake in InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after acquiring an additional 290 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

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.