Merritt sells 5000 shs, well not quite
what it doesn't tell you
The transaction reported involved a gift by the reporting person of 5,000 shares of common stock to a charitable donor advised fund."
InterDigital CEO Sells $266,800 in Stock (IDCC)
Posted by Stephan Byrd on Dec 19th, 2014 // No Comments
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InterDigital logoInterDigital (NASDAQ:IDCC) CEO William J. Merritt unloaded 5,000 shares of the company’s stock on the open market in a transaction dated Thursday, December 18th. The shares were sold at an average price of $53.36, for a total transaction of $266,800.00. Following the transaction, the chief executive officer now directly owns 132,640 shares in the company, valued at approximately $7,077,670. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on IDCC. Analysts at Zacks upgraded shares of InterDigital from a “neutral” rating to an “outperform” rating in a research note on Monday, November 3rd. They now have a $51.40 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of InterDigital in a research note on Friday, October 31st. They now have a $52.00 price target on the stock, up previously from $48.00.
InterDigital (NASDAQ:IDCC) traded up 1.21% during mid-day trading on Friday, hitting $53.75. 1,411,418 shares of the company’s stock traded hands. InterDigital has a one year low of $26.25 and a one year high of $53.90. The stock’s 50-day moving average is $50.93 and its 200-day moving average is $45.82. The company has a market cap of $1.998 billion and a P/E ratio of 20.63.
InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, October 30th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.15. The company had revenue of $77.60 million for the quarter, compared to the consensus estimate of $70.90 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down 29.8% on a year-over-year basis. On average, analysts predict that InterDigital will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 28th. Investors of record on Wednesday, January 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, January 12th.
InterDigital, Inc (NASDAQ:IDCC) designs and develops advanced technologies for wireless communications.
