InterDigital, Inc. (NASDAQ:IDCC) EVP James J. Nolan sold 2,294 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.30, for a total value of $163,562.20. Following the completion of the sale, the executive vice president now directly owns 54,042 shares of the company’s stock, valued at approximately $3,853,194.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of InterDigital, Inc. (NASDAQ:IDCC) opened at 68.90 on Friday. The stock’s 50 day moving average price is $74.74 and its 200-day moving average price is $83.35. The firm has a market cap of $2.39 billion, a PE ratio of 7.51 and a beta of 1.00. InterDigital, Inc. has a 52-week low of $67.05 and a 52-week high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.05. InterDigital had a net margin of 45.92% and a return on equity of 44.58%. The firm had revenue of $135.78 million for the quarter, compared to analyst estimates of $133.69 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. InterDigital’s quarterly revenue was up 78.8% on a year-over-year basis. On average, equities research analysts anticipate that InterDigital, Inc. will post $3.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Shareholders of record on Wednesday, July 12th were paid a $0.30 dividend. The ex-dividend date was Monday, July 10th. This represents a $1.20 annualized dividend and a dividend yield of 1.74%. InterDigital’s payout ratio is currently 13.00%.
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Several research firms recently commented on IDCC. B. Riley reaffirmed a “buy” rating and issued a $100.00 price target on shares of InterDigital in a report on Tuesday, June 13th. ValuEngine lowered InterDigital from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Friday. Finally, Sidoti upgraded InterDigital from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $87.75.
Several hedge funds and other institutional investors have recently bought and sold shares of IDCC. Capstone Asset Management Co. boosted its position in InterDigital by 3.0% in the first quarter. Capstone Asset Management Co. now owns 6,119 shares of the Wireless communications provider’s stock valued at $528,000 after buying an additional 180 shares during the period. Algert Global LLC bought a new position in InterDigital during the first quarter valued at about $895,000. AQR Capital Management LLC boosted its stake in shares of InterDigital by 17.7% in the first quarter. AQR Capital Management LLC now owns 658,561 shares of the Wireless communications provider’s stock worth $56,834,000 after buying an additional 99,018 shares during the last quarter. Smithbridge Asset Management Inc. DE acquired a new stake in shares of InterDigital during the second quarter worth $3,556,000. Finally, Alliancebernstein L.P. boosted its stake in shares of InterDigital by 9.5% in the first quarter. Alliancebernstein L.P. now owns 123,197 shares of the Wireless communications provider’s stock worth $10,632,000 after buying an additional 10,690 shares during the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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