Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Interdigital Inc shares valued at $67,516 were sold by Pankaj Rajesh on May 06 ’24. At $103.87 per share, Pankaj Rajesh sold 650 shares. The insider’s holdings dropped to 64,517 shares worth approximately $6.82 million following the completion of this transaction.
Also, Pankaj Rajesh sold 650 shares, netting a total of over 61,964 in proceeds. Following the sale of shares at $95.33 each, the insider now holds 64,939 shares.
Before that, Hakoranta Eeva K. had sold 699 shares from its account. In a trade valued at $66,943, the Chief Licensing Officer traded Interdigital Inc shares for $95.77 each. Upon closing the transaction, the insider’s holdings decreased to 699 shares, worth approximately $3.17 million.
As published in a research note from BofA Securities on April 01, 2024, Interdigital Inc [IDCC] has been rated down from a Buy to an Underperform and the price target has been revised to $100 from $140. As of May 10, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for IDCC. Earlier on January 27, 2023, William Blair initiated its rating. Their recommendation was “an Outperform” for IDCC stock.
Analyzing IDCC Stock Performance
During the last five days, there has been a surge of approximately 8.04%. Over the course of the year, Interdigital Inc shares have dropped approximately -2.55%. Shares of the company reached a 52-week high of $119.86 on 02/16/24 and a 52-week low of $95.33 on 04/05/24. A 50-day SMA is recorded $101.63, while a 200-day SMA reached $95.43. Nevertheless, trading volume fell to 0.56 million shares from 0.56 million shares the previous day.
Support And Resistance Levels for Interdigital Inc (IDCC)
According to the 24-hour chart, there is a support level at 104.69, which, if violated, would cause prices to drop to 103.62. In the upper region, resistance lies at 106.67. The next price resistance is at 107.58. RSI (Relative Strength Index) is 66.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.48, which suggests the price will increase in the coming days. Percent R is at 7.34%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
