InterDigital, Inc. (NASDAQ:IDCC) Plans $0.35 Quarterly Dividend

InterDigital, Inc. (NASDAQ:IDCCGet Rating) announced a quarterly dividend on Wednesday, June 1st, Zacks reports. Stockholders of record on Wednesday, July 13th will be paid a dividend of 0.35 per share by the Wireless communications provider on Wednesday, July 27th. This represents a $1.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, July 12th.

InterDigital has a dividend payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect InterDigital to earn $3.75 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 37.3%.

InterDigital stock opened at $65.94 on Friday. The firm has a 50-day moving average of $60.99 and a 200-day moving average of $65.59. The firm has a market cap of $2.04 billion, a P/E ratio of 30.53, a P/E/G ratio of 1.32 and a beta of 1.04. InterDigital has a 1-year low of $56.13 and a 1-year high of $85.75. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.56.

InterDigital (NASDAQ:IDCCGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The Wireless communications provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.21. The business had revenue of $101.32 million during the quarter, compared to analyst estimates of $97.85 million. InterDigital had a return on equity of 10.55% and a net margin of 15.24%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. Research analysts forecast that InterDigital will post 3.28 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Millennium Management LLC increased its stake in shares of InterDigital by 682.2% during the fourth quarter. Millennium Management LLC now owns 198,139 shares of the Wireless communications provider’s stock worth $14,193,000 after purchasing an additional 172,809 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of InterDigital by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,411,704 shares of the Wireless communications provider’s stock valued at $217,667,000 after buying an additional 49,177 shares in the last quarter. Barclays PLC increased its position in InterDigital by 22.5% in the fourth quarter. Barclays PLC now owns 166,787 shares of the Wireless communications provider’s stock worth $11,947,000 after buying an additional 30,680 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of InterDigital during the first quarter worth $1,583,000. Finally, Nuveen Asset Management LLC grew its holdings in InterDigital by 20.3% during the fourth quarter. Nuveen Asset Management LLC now owns 142,581 shares of the Wireless communications provider’s stock valued at $10,214,000 after purchasing an additional 24,016 shares during the last quarter. 82.04% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on IDCC shares. TheStreet upgraded InterDigital from a “c+” rating to a “b” rating in a research note on Friday, February 18th. Zacks Investment Research upgraded shares of InterDigital from a “hold” rating to a “strong-buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, May 10th. Finally, StockNews.com began coverage on shares of InterDigital in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company.

About InterDigital (Get Rating)

InterDigital, Inc, together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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Dividend History for InterDigital (NASDAQ:IDCC)

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