InterDigital (NASDAQ:IDCC) Sees Unusually-High Trading Volume

InterDigital, Inc. (NASDAQ:IDCC) shares saw strong trading volume on Tuesday . 1,312,989 shares changed hands during trading, an increase of 169% from the previous session’s volume of 487,678 shares.The stock last traded at $135.57 and had previously closed at $135.03.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $100.00 price target (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

InterDigital Trading Down 0.2 %

The company’s 50-day moving average price is $124.11 and its 200-day moving average price is $111.91. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.11.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a $0.40 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.19%. InterDigital’s dividend payout ratio (DPR) is 23.53%.

Insider Activity

In related news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total transaction of $86,460.00. Following the transaction, the director now directly owns 12,202 shares in the company, valued at $1,406,646.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Derek K. Aberle sold 2,005 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total transaction of $86,460.00. Following the transaction, the director now owns 12,202 shares in the company, valued at $1,406,646.56. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in InterDigital by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after purchasing an additional 10,926 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of InterDigital in the 4th quarter valued at approximately $13,309,000. Trexquant Investment LP purchased a new stake in shares of InterDigital in the 4th quarter valued at approximately $1,779,000. Norges Bank purchased a new stake in shares of InterDigital in the 4th quarter valued at approximately $18,987,000. Finally, Duality Advisers LP raised its stake in shares of InterDigital by 1,380.5% in the 1st quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock valued at $3,441,000 after acquiring an additional 30,137 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.

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.