InterDigital (NASDAQ:IDCC) Hits New 52-Week High – Here’s Why

Shares of InterDigital, Inc. (NASDAQ:IDCC) reached a new 52-week high on Monday . The company traded as high as $207.08 and last traded at $203.17, with a volume of 32332 shares traded. The stock had previously closed at $203.33.

Wall Street Analyst Weigh In

IDCC has been the topic of a number of research analyst reports. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Price Performance

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 company has a market cap of $4.74 billion, a PE ratio of 19.98, a P/E/G ratio of 0.95 and a beta of 1.44. The firm has a 50 day moving average of $188.35 and a two-hundred day moving average of $153.43.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 annualized dividend and a yield of 0.96%. InterDigital’s dividend payout ratio is 19.23%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction 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 sale, the insider now directly owns 24,138 shares in the company, valued at approximately $4,397,702.22. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 158,652 shares in the company, valued at $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,622 shares of company stock worth $2,433,251. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On InterDigital

Institutional investors and hedge funds have recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in shares of InterDigital during the third quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in InterDigital in the third quarter worth about $26,000. Nisa Investment Advisors LLC lifted its stake in 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 purchasing an additional 233 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 299 shares during the last quarter. Finally, CWM LLC grew its stake in InterDigital by 34.0% in the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 216 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

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.