InterDigital Inc. (NASDAQ:IDCC) Director Robert S. Roath sold 6,901 shares of InterDigital stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $77.34, for a total value of $533,723.34. Following the completion of the transaction, the director now owns 15,967 shares in the company, valued at $1,234,887.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of InterDigital Inc. (NASDAQ:IDCC) opened at 77.33 on Friday. InterDigital Inc. has a 52-week low of $41.01 and a 52-week high of $79.97. The firm’s 50-day moving average price is $75.40 and its 200-day moving average price is $62.50. The stock has a market cap of $2.65 billion, a P/E ratio of 21.88 and a beta of 0.73.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.83. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. The business earned $75.90 million during the quarter, compared to analyst estimates of $76.60 million. During the same period last year, the company earned $0.89 earnings per share. InterDigital’s quarterly revenue was down 36.0% compared to the same quarter last year. On average, equities research analysts forecast that InterDigital Inc. will post $5.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend 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 (DPR) is currently 33.99%.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of InterDigital by 1.2% in the second quarter. Vanguard Group Inc. now owns 2,568,708 shares of the company’s stock valued at $143,025,000 after buying an additional 31,587 shares in the last quarter. State Street Corp raised its stake in shares of InterDigital by 0.7% in the first quarter. State Street Corp now owns 1,090,975 shares of the company’s stock valued at $60,710,000 after buying an additional 7,093 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 valued at $57,546,000 after buying an additional 13,188 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of InterDigital by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 878,844 shares of the company’s stock valued at $48,932,000 after buying an additional 4,785 shares in the last quarter. Finally, Ulysses Management LLC raised its stake in shares of InterDigital by 4.2% in the first quarter. Ulysses Management LLC now owns 495,000 shares of the company’s stock valued at $27,547,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 69.14% of the company’s stock.
IDCC has been the topic of a number of analyst reports. B. Riley restated a “buy” rating and issued a $69.00 price target on shares of InterDigital in a research note on Monday, June 27th. Barclays PLC restated an “equal weight” rating and issued a $80.00 price target (up from $75.00) on shares of InterDigital in a research note on Friday, September 23rd. Finally, Zacks Investment Research downgraded 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 assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $78.33.