James J. Nolan Sells 2,294 Shares of InterDigital, Inc. (IDCC) Stock

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.

About InterDigital

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.

Insider Buying and Selling by Quarter for InterDigital (NASDAQ:IDCC)

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