InterDigital (NASDAQ:IDCC) Shares Gap Up to $59.31

InterDigital, Inc. (NASDAQ:IDCCGet Rating) gapped up before the market opened on Thursday . The stock had previously closed at $59.31, but opened at $63.03. InterDigital shares last traded at $62.86, with a volume of 828 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com assumed coverage on InterDigital in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on InterDigital in a research report on Friday, December 9th. They set a “buy” rating and a $80.00 target price on the stock.

InterDigital Price Performance

The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 23.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.11. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.86. The company has a 50 day simple moving average of $52.03 and a 200 day simple moving average of $51.99.

InterDigital (NASDAQ:IDCCGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The Wireless communications provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.44 by $0.30. The company had revenue of $114.76 million during the quarter, compared to analyst estimates of $113.50 million. InterDigital had a return on equity of 11.47% and a net margin of 18.38%. As a group, research analysts predict that InterDigital, Inc. will post 2.57 EPS for the current year.

InterDigital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 11th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, January 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.23%. InterDigital’s dividend payout ratio (DPR) is currently 51.66%.

Institutional Investors Weigh In On InterDigital

A number of large investors have recently modified their holdings of the stock. 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. Dimensional Fund Advisors LP grew its stake in shares of InterDigital by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 964,141 shares of the Wireless communications provider’s stock valued at $38,971,000 after buying an additional 14,546 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of InterDigital by 18.0% in the second quarter. Renaissance Technologies LLC now owns 833,767 shares of the Wireless communications provider’s stock valued at $50,693,000 after buying an additional 127,300 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of InterDigital by 13.2% in the fourth quarter. Boston Trust Walden Corp now owns 615,013 shares of the Wireless communications provider’s stock valued at $30,431,000 after buying an additional 71,477 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of InterDigital by 66.3% in the third quarter. Victory Capital Management Inc. now owns 371,776 shares of the Wireless communications provider’s stock valued at $15,027,000 after buying an additional 148,221 shares in the last quarter. Institutional investors and hedge funds own 83.97% of the company’s stock.

InterDigital Company Profile

(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.

Further Reading

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