InterDigital (NASDAQ:IDCC) CEO Sells $993,888.00 in Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 2,975 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $334.08, for a total transaction of $993,888.00. Following the completion of the sale, the chief executive officer directly owned 173,910 shares in the company, valued at $58,099,852.80. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lawrence Liren Chen also recently made the following trade(s):

• On Tuesday, December 30th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $329.50, for a total transaction of $980,262.50.

InterDigital Trading Up 0.8%

IDCC opened at $309.09 on Friday. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 20.86 and a beta of 1.57. The stock’s 50 day moving average price is $343.88 and its 200-day moving average price is $309.44. InterDigital, Inc. has a one year low of $169.58 and a one year high of $412.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.89 and a current ratio of 1.89.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Thursday, October 30th. The Wireless communications provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.14. The firm had revenue of $164.68 million during the quarter, compared to analyst estimates of $153.43 million. InterDigital had a return on equity of 51.89% and a net margin of 53.50%.InterDigital’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. InterDigital has set its FY 2025 guidance at 14.570-14.830 EPS and its Q4 2025 guidance at 1.380-1.630 EPS. On average, equities analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current year.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Wednesday, January 14th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, January 14th. InterDigital’s dividend payout ratio (DPR) is currently 18.89%.

Hedge Funds Weigh In On InterDigital

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. SG Americas Securities LLC bought a new position in InterDigital in the fourth quarter worth about $1,844,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of InterDigital by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,220 shares of the Wireless communications provider’s stock worth $1,613,000 after acquiring an additional 57 shares in the last quarter. Sovereign Financial Group Inc. lifted its position in InterDigital by 20.4% during the fourth quarter. Sovereign Financial Group Inc. now owns 1,123 shares of the Wireless communications provider’s stock valued at $358,000 after acquiring an additional 190 shares during the last quarter. QP Wealth Management LLC purchased a new stake in InterDigital during the fourth quarter valued at approximately $551,000. Finally, GAMMA Investing LLC boosted its stake in InterDigital by 5.1% in the fourth quarter. GAMMA Investing LLC now owns 2,098 shares of the Wireless communications provider’s stock valued at $668,000 after acquiring an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on IDCC. UBS Group set a $425.00 price objective on shares of InterDigital in a research report on Monday, December 1st. Weiss Ratings downgraded InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, December 29th. Jefferies Financial Group set a $475.00 target price on InterDigital and gave the company a “buy” rating in a research report on Thursday, October 30th. Zacks Research downgraded InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Finally, William Blair restated an “outperform” rating on shares of InterDigital in a report on Monday, September 22nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $416.67.

About InterDigital

InterDigital, Inc is a mobile and video technology research and development company that designs and licenses wireless communications and video compression innovations. Its patent portfolio encompasses key standards across 3G, 4G LTE and 5G wireless networks, as well as video and multimedia technologies. By focusing on fundamental technology creation rather than device manufacturing, InterDigital delivers core intellectual property to smartphone manufacturers, chipset vendors and telecommunications operators worldwide.

The company’s principal services include patent licensing, technology evaluation and consulting.