Lawrence Liren Chen Sells 5,958 Shares of InterDigital (NASDAQ:IDCC) Stock

InterDigital, Inc. (NASDAQ:IDCC) CEO Lawrence Liren Chen sold 5,958 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $327.62, for a total value of $1,951,959.96. Following the sale, the chief executive officer directly owned 153,077 shares in the company, valued at $50,151,086.74. This trade represents a 3.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, January 20th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $303.77, for a total transaction of $903,715.75.
• On Tuesday, January 13th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $310.82, for a total transaction of $924,689.50.
• On Tuesday, January 6th, Lawrence Liren Chen sold 2,975 shares of InterDigital stock. The stock was sold at an average price of $334.08, for a total transaction of $993,888.00.
• 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 value of $980,262.50.

InterDigital Price Performance

Shares of IDCC stock opened at $330.93 on Friday. The firm has a market capitalization of $8.52 billion, a price-to-earnings ratio of 22.33 and a beta of 1.57. InterDigital, Inc. has a fifty-two week low of $177.00 and a fifty-two week 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. The stock’s 50-day simple moving average is $333.36 and its 200-day simple moving average is $318.74.

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, beating analysts’ consensus estimates of $1.79 by $0.14. InterDigital had a net margin of 53.50% and a return on equity of 51.89%. The business had revenue of $164.68 million for the quarter, compared to analyst estimates of $153.43 million. During the same quarter in the prior year, the business posted $1.14 EPS. InterDigital’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, equities analysts forecast that InterDigital, Inc. will post 9.21 earnings per share for the current fiscal year.

InterDigital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Wednesday, January 14th were given a $0.70 dividend. The ex-dividend date was Wednesday, January 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. InterDigital’s payout ratio is 18.89%.

Analyst Ratings Changes

IDCC has been the subject of several research reports. Weiss Ratings lowered InterDigital from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, December 29th. UBS Group set a $425.00 price target on shares of InterDigital in a research report on Monday, December 1st. Jefferies Financial Group set a $475.00 price objective on InterDigital and gave the company a “buy” rating in a report on Thursday, October 30th. Zacks Research cut shares of InterDigital from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Finally, Roth Mkm restated a “buy” rating on shares of InterDigital in a research report on Tuesday, January 20th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, InterDigital presently has a consensus rating of “Moderate Buy” and an average price target of $416.67.

Institutional Trading of InterDigital

Institutional investors have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of InterDigital during the 2nd quarter worth about $28,000. Root Financial Partners LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at $30,000. Aster Capital Management DIFC Ltd increased its stake in InterDigital by 186.8% in the third quarter. Aster Capital Management DIFC Ltd now owns 109 shares of the Wireless communications provider’s stock valued at $38,000 after purchasing an additional 71 shares during the period. Financial Consulate Inc. acquired a new position in InterDigital in the 4th quarter valued at about $41,000. Finally, Huntington National Bank increased its holdings in shares of InterDigital by 530.3% in the second quarter. Huntington National Bank now owns 208 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 175 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

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.