InterDigital (NASDAQ:IDCC) Hits New 1-Year High at $98.71

InterDigital, Inc. (NASDAQ:IDCC)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $98.71 and last traded at $98.23, with a volume of 170897 shares trading hands. The stock had previously closed at $96.47.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IDCC shares. William Blair started coverage on shares of InterDigital in a report on Tuesday, August 22nd. They issued an “outperform” rating for the company. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, InterDigital presently has an average rating of “Buy” and an average price target of $92.50.

InterDigital Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 2.82 and a quick ratio of 2.82. The business’s 50 day moving average price is $81.97 and its 200-day moving average price is $85.74. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.72 and a beta of 1.24.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from InterDigital’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, October 10th. InterDigital’s payout ratio is 22.32%.

Insider Transactions at InterDigital

In other news, insider Joshua D. Schmidt sold 364 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.52, for a total transaction of $30,401.28. Following the transaction, the insider now directly owns 19,690 shares in the company, valued at $1,644,508.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other InterDigital news, insider Joshua D. Schmidt sold 364 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.52, for a total transaction of $30,401.28. Following the transaction, the insider now directly owns 19,690 shares in the company, valued at $1,644,508.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Rajesh Pankaj sold 650 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $85.33, for a total transaction of $55,464.50. Following the transaction, the chief technology officer now owns 58,834 shares in the company, valued at $5,020,305.22. The disclosure for this sale can be found here. Insiders have sold a total of 4,864 shares of company stock worth $402,919 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of InterDigital

Several large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust grew its position in shares of InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after purchasing an additional 114 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 143 shares during the last quarter. Cardinal Capital Management grew its position in shares of InterDigital by 1.9% in the second quarter. Cardinal Capital Management now owns 9,499 shares of the Wireless communications provider’s stock valued at $917,000 after purchasing an additional 177 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of InterDigital by 0.5% in the third quarter. Los Angeles Capital Management LLC now owns 34,016 shares of the Wireless communications provider’s stock valued at $2,729,000 after purchasing an additional 184 shares during the last quarter. Finally, Sigma Planning Corp grew its position in shares of InterDigital by 3.3% in the third quarter. Sigma Planning Corp now owns 6,102 shares of the Wireless communications provider’s stock valued at $490,000 after purchasing an additional 193 shares during the last quarter. 94.98% of the stock is currently owned by institutional investors and hedge funds.

About InterDigital

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, and related technologies. It designs and develops technologies that enable connected in a range of communications and entertainment products and services. It licenses or intend to license its innovations to companies providing products and services, including wireless communications, consumer electronics, personal computer, and automotive, as well as cloud-based services, such as video streaming.