InterDigital (NASDAQ:IDCC) Hits New 52-Week High – What’s Next?

InterDigital, Inc. (NASDAQ:IDCC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $147.63 and last traded at $147.49, with a volume of 778770 shares changing hands. The stock had previously closed at $145.65.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Monday. Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Stock Performance

The stock’s fifty day moving average is $136.88 and its two-hundred day moving average is $119.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 0.88 and a beta of 1.39.

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

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a $0.45 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, October 9th. InterDigital’s payout ratio is currently 26.47%.

Insider Buying and Selling at InterDigital

In related news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total value of $269,472.00. Following the sale, the director now owns 7,639 shares of the company’s stock, valued at $1,026,681.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock worth $716,218 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On InterDigital

A number of hedge funds have recently made changes to their positions in IDCC. Icon Wealth Advisors LLC bought a new stake in InterDigital during the 4th quarter valued at $380,000. Virtu Financial LLC acquired a new position in InterDigital during the 4th quarter valued at about $328,000. Wellington Management Group LLP raised its position in shares of InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after buying an additional 10,926 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in InterDigital during the 4th quarter valued at $5,427,000. Finally, PNC Financial Services Group Inc. raised its position in InterDigital by 40.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,703 shares of the Wireless communications provider’s stock worth $402,000 after acquiring an additional 1,069 shares in the last quarter. Institutional investors 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.