Jean F. Rankin Sells 680 Shares of InterDigital Wireless Inc (NASDAQ:IDCC) Stock

InterDigital Wireless Inc (NASDAQ:IDCC) Director Jean F. Rankin sold 680 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $64.84, for a total value of $44,091.20. Following the sale, the director now owns 20,918 shares in the company, valued at approximately $1,356,323.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of InterDigital Wireless stock traded up $0.86 on Friday, hitting $64.40. 1,133,752 shares of the company’s stock traded hands, compared to its average volume of 336,572. The firm’s fifty day moving average price is $65.80. InterDigital Wireless Inc has a one year low of $62.34 and a one year high of $85.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.02 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 6.94 and a beta of 1.10.

InterDigital Wireless (NASDAQ:IDCC) last posted its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). InterDigital Wireless had a return on equity of 3.27% and a net margin of 10.79%. The firm had revenue of $68.63 million for the quarter, compared to analyst estimates of $70.19 million. During the same period last year, the company posted $1.29 earnings per share. The firm’s quarterly revenue was down 21.5% compared to the same quarter last year. As a group, analysts expect that InterDigital Wireless Inc will post 0.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, July 9th. InterDigital Wireless’s dividend payout ratio (DPR) is currently 77.35%.

Several brokerages recently commented on IDCC. Zacks Investment Research upgraded InterDigital Wireless from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, May 7th. BidaskClub lowered InterDigital Wireless from a “sell” rating to a “strong sell” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $91.00.

A number of hedge funds have recently bought and sold shares of the stock. Royce & Associates LP raised its stake in shares of InterDigital Wireless by 40.6% in the first quarter. Royce & Associates LP now owns 700 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 202 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of InterDigital Wireless in the fourth quarter worth approximately $79,000. Penserra Capital Management LLC purchased a new stake in shares of InterDigital Wireless in the first quarter worth approximately $83,000. Ffcm LLC raised its stake in shares of InterDigital Wireless by 235.0% in the fourth quarter. Ffcm LLC now owns 1,953 shares of the Wireless communications provider’s stock worth $130,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of InterDigital Wireless by 22.0% in the fourth quarter. Bank of Montreal Can now owns 3,023 shares of the Wireless communications provider’s stock worth $201,000 after purchasing an additional 546 shares during the last quarter. 74.34% of the stock is currently owned by institutional investors and hedge funds.

About InterDigital Wireless

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks.

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