Eric Cohen Sells 4,316 Shares of InterDigital, Inc. (NASDAQ:IDCC) Stock

Posted by Defense World Staff on May 13th, 2023

InterDigital, Inc. (NASDAQ:IDCC – Get Rating) insider Eric Cohen sold 4,316 shares of InterDigital stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $84.53, for a total transaction of $364,831.48. Following the transaction, the insider now owns 45,477 shares of the company’s stock, valued at $3,844,170.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eric Cohen also recently made the following trade(s):

On Wednesday, March 15th, Eric Cohen sold 7,597 shares of InterDigital stock. The shares were sold at an average price of $72.86, for a total transaction of $553,517.42.

InterDigital Trading Down 0.4 %

NASDAQ:IDCC opened at $82.87 on Friday. The company has a 50 day simple moving average of $73.25 and a two-hundred day simple moving average of $63.25. The company has a market cap of $2.22 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22. InterDigital, Inc. has a 12 month low of $40.23 and a 12 month high of $86.27. The company has a current ratio of 4.70, a quick ratio of 4.70 and a debt-to-equity ratio of 0.97.

InterDigital (NASDAQ:IDCC – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The Wireless communications provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.16. The business had revenue of $117.10 million for the quarter, compared to analysts’ expectations of $113.93 million. InterDigital had a net margin of 32.38% and a return on equity of 28.17%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 EPS. Research analysts forecast that InterDigital, Inc. will post 5.16 earnings per share for the current year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 12th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, April 11th. InterDigital’s dividend payout ratio is presently 22.99%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Monday, May 8th. TheStreet raised shares of InterDigital from a “c+” rating to a “b” rating in a research report on Monday, January 23rd. William Blair initiated coverage on shares of InterDigital in a research report on Thursday, January 26th. They set an “outperform” rating for the company. Finally, Bank of America raised shares of InterDigital from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $105.00 in a research report on Wednesday. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $92.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Ronald Blue Trust Inc. lifted its stake in shares of InterDigital by 17.6% during the 1st quarter. Ronald Blue Trust Inc. now owns 1,174 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 176 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of InterDigital by 1.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,909 shares of the Wireless communications provider’s stock valued at $967,000 after buying an additional 214 shares in the last quarter. Arizona State Retirement System lifted its stake in InterDigital by 2.7% in the 1st quarter. Arizona State Retirement System now owns 8,595 shares of the Wireless communications provider’s stock worth $627,000 after purchasing an additional 226 shares in the last quarter. Creative Planning lifted its stake in InterDigital by 2.3% in the 4th quarter. Creative Planning now owns 10,087 shares of the Wireless communications provider’s stock worth $499,000 after purchasing an additional 229 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in InterDigital by 3.2% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 7,321 shares of the Wireless communications provider’s stock worth $362,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 83.97% of the company’s stock.

About InterDigital

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InterDigital, Inc engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology.