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.