InterDigital, Inc. (NASDAQ:IDCC) Insider Joshua D. Schmidt Sells 1,781 Shares

InterDigital, Inc. (NASDAQ:IDCC) insider Joshua D. Schmidt sold 1,781 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $218.00, for a total value of $388,258.00. Following the sale, the insider now owns 24,395 shares in the company, valued at $5,318,110. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

InterDigital Stock Performance

InterDigital stock opened at $219.14 on Friday. The stock’s 50 day simple moving average is $199.33 and its two-hundred day simple moving average is $178.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.57 and a beta of 1.45. InterDigital, Inc. has a fifty-two week low of $95.33 and a fifty-two week high of $231.97.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.93%.

Hedge Funds Weigh In On InterDigital

Several large investors have recently made changes to their positions in the business. Congress Asset Management Co. purchased a new position in InterDigital in the 4th quarter worth approximately $62,583,000. Price T Rowe Associates Inc. MD raised its stake in InterDigital by 1,451.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider’s stock valued at $57,986,000 after buying an additional 280,030 shares during the last quarter. Reinhart Partners LLC. raised its stake in InterDigital by 83.8% during the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after buying an additional 164,223 shares during the last quarter. Millennium Management LLC raised its stake in InterDigital by 3,962.5% during the 4th quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider’s stock valued at $24,947,000 after buying an additional 125,610 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of InterDigital during the 4th quarter valued at $19,572,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.