InterDigital (NASDAQ:IDCC) Reaches New 12-Month High – Time to Buy?

InterDigital, Inc. (NASDAQ:IDCC) reached a new 52-week high on Thursday . The stock traded as high as $231.97 and last traded at $209.87, with a volume of 74214 shares trading hands. The stock had previously closed at $204.17.

InterDigital Stock Up 2.5 %

The stock has a fifty day moving average price of $194.65 and a 200-day moving average price of $172.89. The firm has a market cap of $5.37 billion, a PE ratio of 17.37, a PEG ratio of 1.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.15%. InterDigital’s payout ratio is presently 19.93%.

Insiders Place Their Bets

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the sale, the insider now owns 30,537 shares of the company’s stock, valued at $6,550,491.87. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the transaction, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,134 shares of company stock worth $4,678,770 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On InterDigital

A number of large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital during the third quarter valued at about $25,000. Global Retirement Partners LLC grew its stake in InterDigital by 504.5% during the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after purchasing an additional 111 shares in the last quarter. Elequin Capital LP purchased a new stake in InterDigital during the 4th quarter worth approximately $29,000. Prudent Man Investment Management Inc. acquired a new position in shares of InterDigital in the 4th quarter valued at approximately $39,000. Finally, Mendota Financial Group LLC boosted its stake in shares of InterDigital by 14,500.0% during the 4th quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after buying an additional 290 shares during the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

About InterDigital

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.