InterDigital (NASDAQ:IDCC) Hits New 1-Year High – Time to Buy?

InterDigital, Inc. (NASDAQ:IDCC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $207.08 and last traded at $203.17, with a volume of 32332 shares trading hands. The stock had previously closed at $203.33.

Wall Street Analyst Weigh In

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

InterDigital Price Performance

The business’s 50-day simple moving average is $186.47 and its 200 day simple moving average is $152.34. The company has a market capitalization of $5.08 billion, a P/E ratio of 21.42, a P/E/G ratio of 0.95 and a beta of 1.44. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 0.90%. InterDigital’s payout ratio is 19.23%.

Insiders Place Their Bets

In other InterDigital news, CEO Lawrence Liren Chen sold 5,891 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the sale, the chief executive officer now directly owns 158,652 shares of the company’s stock, valued at approximately $30,004,266.24. This represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the transaction, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,922 shares of company stock worth $2,290,360 over the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On InterDigital

Institutional investors and hedge funds have recently modified their holdings of the stock. Transcendent Capital Group LLC acquired a new position in shares of InterDigital in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in InterDigital during the third quarter valued at about $26,000. Nisa Investment Advisors LLC boosted its holdings in shares of InterDigital by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after buying an additional 233 shares during the period. GAMMA Investing LLC increased its position in shares of InterDigital by 81.3% in the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock worth $94,000 after acquiring an additional 299 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of InterDigital by 34.0% during the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 216 shares during the period. 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.