InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen Sells 5,891 Shares of Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the sale, the chief executive officer now owns 164,543 shares in the company, valued at approximately $32,141,829.62. The trade was a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

InterDigital Stock Up 0.2 %

InterDigital stock opened at $189.43 on Friday. The stock’s fifty day moving average is $177.46 and its two-hundred day moving average is $145.93. The stock has a market cap of $4.80 billion, a PE ratio of 20.24, a P/E/G ratio of 0.81 and a beta of 1.44. InterDigital, Inc. has a 1-year low of $95.33 and a 1-year high of $203.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IDCC. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm lifted their price target on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

Hedge Funds Weigh In On InterDigital

Several hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC purchased a new position in shares of InterDigital in the 3rd quarter valued at $1,427,000. Kovitz Investment Group Partners LLC purchased a new position in shares of InterDigital during the third quarter worth about $380,000. Ritholtz Wealth Management increased its position in shares of InterDigital by 16.1% during the third quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after purchasing an additional 3,381 shares in the last quarter. Olympiad Research LP purchased a new position in InterDigital during the 3rd quarter worth approximately $475,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in InterDigital in the third quarter valued at approximately $568,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

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.