Jean F. Rankin Sells 1,086 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) Director Jean F. Rankin sold 1,086 shares of the stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $83.24, for a total transaction of $90,398.64. Following the completion of the transaction, the director now owns 13,358 shares in the company, valued at $1,111,919.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of IDCC stock opened at $80.52 on Friday. The company has a market cap of $2.48 billion, a P/E ratio of 49.70, a price-to-earnings-growth ratio of 6.07 and a beta of 1.10. InterDigital, Inc. has a one year low of $52.88 and a one year high of $85.75. The company’s fifty day moving average price is $73.26. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.57.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, May 6th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.19. The firm had revenue of $82.36 million for the quarter, compared to the consensus estimate of $79.97 million. InterDigital had a net margin of 13.76% and a return on equity of 4.07%. InterDigital’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that InterDigital, Inc. will post 0.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Wednesday, July 14th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, July 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.74%. InterDigital’s payout ratio is 97.22%.

Separately, B. Riley increased their price target on shares of InterDigital from $100.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, February 19th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kingsview Wealth Management LLC bought a new stake in InterDigital in the 1st quarter valued at $776,000. Principal Financial Group Inc. increased its holdings in InterDigital by 14.2% in the 1st quarter. Principal Financial Group Inc. now owns 137,093 shares of the Wireless communications provider’s stock valued at $8,698,000 after acquiring an additional 17,061 shares during the last quarter. Disciplined Growth Investors Inc. MN bought a new stake in InterDigital in the 1st quarter valued at $42,383,000. Eaton Vance Management bought a new stake in InterDigital in the 1st quarter valued at $70,000. Finally, Holocene Advisors LP increased its holdings in InterDigital by 1,148.4% in the 1st quarter. Holocene Advisors LP now owns 43,995 shares of the Wireless communications provider’s stock valued at $2,791,000 after acquiring an additional 40,471 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

About InterDigital

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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