InterDigital, Inc. (IDCC) To Go Ex-Dividend on January 8th

InterDigital, Inc. (NASDAQ:IDCC) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Wednesday, January 8th will be given a dividend of 0.45 per share by the Wireless communications provider on Wednesday, January 22nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, January 8th.

InterDigital has increased its dividend by an average of 5.6% annually over the last three years. InterDigital has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect InterDigital to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 30.9%.

InterDigital Price Performance

Shares of IDCC opened at $203.33 on Monday. The stock has a fifty day moving average price of $186.47 and a 200 day moving average price of $152.34. The company has a market cap of $5.15 billion, a P/E ratio of 21.72, a PEG ratio of 0.95 and a beta of 1.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital has a 12 month low of $95.33 and a 12 month high of $203.90.

Insiders Place Their Bets

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total value of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares of the company’s stock, valued at $4,397,702.22. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total value of $1,150,747.94. Following the sale, the chief executive officer now directly owns 164,543 shares in the company, valued at $32,141,829.62. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,922 shares of company stock worth $2,290,360. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on IDCC shares. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

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.