InterDigital (NASDAQ:IDCC) Reaches New 52-Week High at $145.49

Shares of InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $145.49 and last traded at $145.38, with a volume of 14380 shares trading hands. The stock had previously closed at $144.83.

Analyst Ratings Changes

A number of brokerages have recently commented on IDCC. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a research note on Thursday, August 22nd. Roth Mkm upped their price objective on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

InterDigital Stock Down 0.2 %

The business’s fifty day simple moving average is $135.03 and its two-hundred day simple moving average is $118.50. The company has a market cap of $3.65 billion, a PE ratio of 21.21, a PEG 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.

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

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.45 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.24%. InterDigital’s dividend payout ratio (DPR) is 26.47%.

Insider Activity at InterDigital

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

Hedge Funds Weigh In On InterDigital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in InterDigital in the 2nd quarter valued at $596,000. Truist Financial Corp boosted its position in shares of InterDigital by 1.5% during the 2nd quarter. Truist Financial Corp now owns 22,149 shares of the Wireless communications provider’s stock valued at $2,582,000 after acquiring an additional 322 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of InterDigital in the second quarter valued at about $322,000. Disciplined Growth Investors Inc. MN increased its position in InterDigital by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,092,927 shares of the Wireless communications provider’s stock worth $127,392,000 after purchasing an additional 10,532 shares during the last quarter. Finally, Creative Planning increased its position in InterDigital by 4.2% during the second quarter. Creative Planning now owns 13,637 shares of the Wireless communications provider’s stock worth $1,590,000 after purchasing an additional 551 shares during the last quarter. 99.83% of the stock is currently 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.