The 5,000 Shares of InterDigital Inc. (IDCC) Stock are sold by William J. Merritt

The 5,000 Shares of InterDigital Inc. (IDCC) Stock are sold by William J. Merritt

InterDigital Inc. (NASDAQ:IDCC) insider William J. Merritt sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $78.35, for a total transaction of $391,750.00. Following the sale, the insider now owns 136,072 shares of the company’s stock, valued at $10,661,241.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

InterDigital Inc. (NASDAQ:IDCC) opened at 77.33 on Friday. The stock has a 50 day moving average of $75.40 and a 200 day moving average of $62.50. InterDigital Inc. has a 52 week low of $41.01 and a 52 week high of $79.97. The stock has a market capitalization of $2.65 billion, a P/E ratio of 21.88 and a beta of 0.73.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.83. The business earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The firm’s revenue was down 36.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, equities research analysts predict that InterDigital Inc. will post $5.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 12th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from InterDigital’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 7th. InterDigital’s dividend payout ratio is 33.99%.

Several brokerages have recently weighed in on IDCC. TheStreet upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Wednesday, August 3rd. B. Riley downgraded shares of InterDigital from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a research note on Monday, September 26th. Barclays PLC upped their target price on shares of InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 9th. Dougherty & Co downgraded shares of InterDigital from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 5th. Finally, Zacks Investment Research downgraded shares of InterDigital from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $78.33.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in InterDigital by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,568,708 shares of the company’s stock worth $143,025,000 after buying an additional 31,587 shares during the period. State Street Corp raised its stake in InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock worth $60,710,000 after buying an additional 7,093 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in InterDigital by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,034,062 shares of the company’s stock worth $57,546,000 after buying an additional 13,188 shares during the period. Dimensional Fund Advisors LP raised its stake in InterDigital by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 878,844 shares of the company’s stock worth $48,932,000 after buying an additional 4,785 shares during the period. Finally, Ulysses Management LLC raised its stake in InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock worth $27,547,000 after buying an additional 20,000 shares during the period. 69.14% of the stock is owned by institutional investors and hedge funds.

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