InterDigital (NASDAQ:IDCC) Shares Gap Up – What’s Next?

InterDigital, Inc. (NASDAQ:IDCC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $182.50, but opened at $200.00. InterDigital shares last traded at $201.46, with a volume of 75,687 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Price Performance

The company has a 50 day moving average of $188.74 and a 200 day moving average of $162.86. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44. The company has a quick ratio of 1.62, a current ratio of 1.70 and a debt-to-equity ratio of 0.08.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio is presently 14.95%.

Insider Activity at InterDigital

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was 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. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now owns 52,396 shares of the company’s stock, valued at $9,693,260. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,322 shares of company stock worth $2,562,751. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Congress Asset Management Co. purchased a new position in shares of InterDigital in the fourth quarter valued at $62,583,000. Reinhart Partners LLC. bought a new position in InterDigital during the 3rd quarter valued at $27,762,000. International Assets Investment Management LLC increased its position in shares of InterDigital by 283,160.0% in the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after purchasing an additional 113,264 shares during the last quarter. Emerald Advisers LLC lifted its position in shares of InterDigital by 50.3% during the third quarter. Emerald Advisers LLC now owns 180,987 shares of the Wireless communications provider’s stock worth $25,633,000 after purchasing an additional 60,575 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in InterDigital by 28.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock worth $30,420,000 after purchasing an additional 48,137 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.