InterDigital (NASDAQ:IDCC) Hits New 52-Week High – Here’s What Happened

InterDigital, Inc. (NASDAQ:IDCC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $199.82 and last traded at $199.76, with a volume of 167926 shares. The stock had previously closed at $196.57.

Analyst Ratings Changes

IDCC has been the subject of a number of research analyst reports. Roth Mkm lifted their price target on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Stock Up 1.8 %

The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 0.82 and a beta of 1.44. The business’s 50-day moving average is $164.00 and its two-hundred day moving average is $138.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Insider Activity at InterDigital

In other news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares in the company, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock worth $472,253 in the last quarter. Corporate 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 IDCC. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in InterDigital in the 3rd quarter valued at about $26,000. 1620 Investment Advisors Inc. acquired a new stake in InterDigital in the 2nd quarter valued at about $29,000. GAMMA Investing LLC grew its holdings 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 during the period. Finally, Nisa Investment Advisors LLC raised its stake 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 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.