InterDigital (NASDAQ:IDCC) Hits New 1-Year High at $120.00

InterDigital, Inc. (NASDAQ:IDCC)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $120.00 and last traded at $119.67, with a volume of 43279 shares. The stock had previously closed at $118.68.

Analyst Upgrades and Downgrades

IDCC has been the topic of several analyst reports. Bank of America reissued an “underperform” rating and issued a $100.00 target price (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $100.00 price target (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

InterDigital Stock Up 0.7 %

The company has a 50 day moving average price of $111.80 and a two-hundred day moving average price of $107.07. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $3.02 billion, a PE ratio of 17.45, a PEG ratio of 1.02 and a beta of 1.42.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.06. The company had revenue of $263.54 million during the quarter, compared to analysts’ expectations of $250.15 million. InterDigital had a return on equity of 32.57% and a net margin of 31.18%. Analysts expect that InterDigital, Inc. will post 6.65 EPS for the current year.

InterDigital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Insider Activity at InterDigital

In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the sale, the director now owns 12,202 shares in the company, valued at $1,406,646.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the completion of the sale, the chief technology officer now owns 64,517 shares in the company, valued at $6,701,380.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On InterDigital

Hedge funds have recently made changes to their positions in the business. Riverview Trust Co bought a new position in shares of InterDigital in the first quarter worth about $31,000. GAMMA Investing LLC boosted its stake in InterDigital by 50.8% during the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the last quarter. Palisade Asset Management LLC bought a new position in InterDigital during the first quarter valued at approximately $64,000. Quadrant Capital Group LLC boosted its stake in InterDigital by 11.6% during the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider’s stock valued at $107,000 after buying an additional 103 shares during the last quarter. Finally, Hyperion Capital Advisors LP bought a new position in InterDigital during the first quarter valued at approximately $207,000. 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.