InterDigital (NASDAQ:IDCC) Sets New 1-Year High – Here’s What Happened

InterDigital, Inc. (NASDAQ:IDCC) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $174.28 and last traded at $174.28, with a volume of 5116 shares changing hands. The stock had previously closed at $168.84.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IDCC. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research report on Monday. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Stock Up 5.6 %

The firm’s 50-day moving average price is $144.15 and its 200 day moving average price is $127.49. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.01%. InterDigital’s payout ratio is currently 19.23%.

Insider Activity at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Derek K. Aberle sold 2,005 shares of InterDigital stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,205 shares of company stock worth $716,218. Company insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital in the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new stake in InterDigital during the 3rd quarter valued at $26,000. 1620 Investment Advisors Inc. acquired a new position in InterDigital during the 2nd quarter worth about $29,000. GAMMA Investing LLC boosted its position in InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Company Profile

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.