InterDigital (NASDAQ:IDCC) Sets New 12-Month High at $141.76

InterDigital, Inc. (NASDAQ:IDCC) reached a new 52-week high on Friday . The company traded as high as $141.76 and last traded at $141.37, with a volume of 60155 shares traded. The stock had previously closed at $138.45.

Analysts Set New Price Targets

A number of research firms recently issued reports on IDCC. Roth Mkm lifted their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd.

InterDigital Stock Up 1.6 %

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 0.88 and a beta of 1.39. The business has a 50-day simple moving average of $133.43 and a two-hundred day simple moving average of $117.34.

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

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.28%. InterDigital’s payout ratio is presently 26.47%.

Insider Buying and Selling at InterDigital

In other news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the sale, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the firm’s 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 transaction, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new position in shares of InterDigital during the second quarter worth approximately $29,000. Riverview Trust Co acquired a new stake in shares of InterDigital in the 1st quarter valued at $31,000. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 124 shares during the last quarter. Nisa Investment Advisors LLC increased its position in InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 109 shares during the period. Finally, Palisade Asset Management LLC bought a new position in shares of InterDigital in the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

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.