InterDigital (NASDAQ:IDCC) Hits New 1-Year High – Here’s Why

InterDigital, Inc. (NASDAQ:IDCC)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $213.37 and last traded at $211.79, with a volume of 1008385 shares changing hands. The stock had previously closed at $182.50.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Trading Up 16.0 %

The stock has a fifty day moving average of $188.57 and a two-hundred day moving average of $162.30. The company has a market capitalization of $5.37 billion, a PE ratio of 22.63, a PEG ratio of 2.08 and a beta of 1.44. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.85%. The ex-dividend date was Wednesday, January 8th. InterDigital’s dividend payout ratio is presently 19.23%.

Insider Activity

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total value of $142,891.00. Following the sale, the chief technology officer now owns 52,997 shares of the company’s stock, valued at $10,818,277.61. This trade represents a 1.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the transaction, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,622 shares of company stock valued at $2,433,251. 2.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On InterDigital

A number of hedge funds and other institutional investors have recently made changes to their positions in IDCC. Transcendent Capital Group LLC purchased a new position in InterDigital during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new position in shares of InterDigital during the third quarter valued at about $26,000. Global Retirement Partners LLC increased its position in shares of InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock valued at $26,000 after buying an additional 111 shares during the period. Mendota Financial Group LLC raised its stake in InterDigital by 14,500.0% in the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock worth $57,000 after buying an additional 290 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in InterDigital in the fourth quarter worth about $70,000. Institutional investors own 99.83% of the company’s stock.

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.