InterDigital (NASDAQ:IDCC) Hits New 12-Month High – Here’s What Happened

InterDigital, Inc. (NASDAQ:IDCC)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $199.82 and last traded at $199.76, with a volume of 167926 shares traded. The stock had previously closed at $196.57.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Roth Mkm increased their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Stock Down 0.4 %

The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The stock has a market cap of $5.06 billion, a PE ratio of 21.43, a P/E/G ratio of 0.84 and a beta of 1.44. The business has a 50 day moving average of $166.50 and a 200-day moving average of $139.83.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.45 dividend. The ex-dividend date was 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 yield of 0.90%. InterDigital’s payout ratio is currently 19.23%.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the business’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 owns 54,984 shares of the company’s stock, valued at $7,850,615.52. The trade was a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the company’s 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 completion of the sale, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 10.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock valued at $472,253 in the last ninety days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in InterDigital by 51,337.0% during the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares in the last quarter. Reinhart Partners LLC. acquired a new position in shares of InterDigital during the 3rd quarter valued at about $27,762,000. Emerald Advisers LLC lifted its holdings in shares of InterDigital by 127,997.9% during the 2nd quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after acquiring an additional 120,318 shares during the period. International Assets Investment Management LLC boosted its position in shares of InterDigital by 283,160.0% in the third quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after acquiring an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in InterDigital by 473.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock valued at $11,244,000 after purchasing an additional 79,648 shares during the period. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Company Profile

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.