InterDigital (NASDAQ:IDCC) Sets New 52-Week High – What’s Next?

Shares of InterDigital, Inc. (NASDAQ:IDCC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $147.63 and last traded at $147.49, with a volume of 778770 shares changing hands. The stock had previously closed at $145.65.

Wall Street Analyst Weigh In

IDCC has been the subject of a number of research analyst reports. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday.

InterDigital Price Performance

The stock has a market cap of $3.73 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The stock’s fifty day moving average is $136.88 and its 200-day moving average is $119.72.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. The company had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. As a group, equities analysts anticipate that InterDigital, Inc. will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is 26.47%.

Insider Activity

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

Hedge Funds Weigh In On InterDigital

A number of large investors have recently bought and sold shares of IDCC. 1620 Investment Advisors Inc. purchased a new position in shares of InterDigital during the 2nd quarter worth approximately $29,000. Riverview Trust Co acquired a new stake in shares of InterDigital in the 1st quarter worth approximately $31,000. GAMMA Investing LLC boosted its position in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 124 shares in the last quarter. Nisa Investment Advisors LLC grew 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 purchasing an additional 109 shares during the last quarter. Finally, Palisade Asset Management LLC acquired a new position in shares of InterDigital during the 1st quarter worth $64,000. Hedge funds and other institutional investors 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.