InterDigital (NASDAQ:IDCC) Sets New 12-Month High – What’s Next?

InterDigital, Inc. (NASDAQ:IDCC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $192.40 and last traded at $192.40, with a volume of 450 shares trading hands. The stock had previously closed at $190.12.

Analyst Ratings Changes

A number of analysts recently issued reports on IDCC shares. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Stock Up 1.9 %

The business has a 50-day moving average price of $156.92 and a 200-day moving average price of $135.01. The stock has a market cap of $4.91 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.93%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

Insider Activity

In other news, insider Joshua D. Schmidt sold 140 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total value of $25,506.60. Following the completion of the sale, the insider now directly owns 24,138 shares in the company, valued at $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,340 shares of company stock worth $472,253 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IDCC. Captrust Financial Advisors grew its holdings in shares of InterDigital by 0.5% in the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock valued at $1,965,000 after purchasing an additional 68 shares during the period. Simplicity Wealth LLC raised its position in InterDigital by 1.5% in the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after purchasing an additional 69 shares during the period. Miller Howard Investments Inc. NY lifted its stake in InterDigital by 2.0% during the second quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock worth $536,000 after purchasing an additional 90 shares in the last quarter. Blue Trust Inc. boosted its position in shares of InterDigital by 9.4% during the third quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock worth $166,000 after buying an additional 101 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other 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.