InterDigital (NASDAQ:IDCC) Sets New 52-Week High – Here’s What Happened

InterDigital, Inc. (NASDAQ:IDCC)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $214.98 and last traded at $212.19, with a volume of 33527 shares changing hands. The stock had previously closed at $210.14.

Wall Street Analyst Weigh In

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

InterDigital Stock Down 0.3 %

The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $190.07 and its 200 day simple moving average is $165.97. The firm has a market capitalization of $5.43 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.41 and a beta of 1.44.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.12%. This is a boost from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s payout ratio is presently 14.95%.

Insiders Place Their Bets

In related news, CEO Lawrence Liren Chen sold 5,891 shares of InterDigital 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 completion of the transaction, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at $32,141,829.62. This trade represents a 3.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $204.13, for a total transaction of $142,891.00. Following the completion of the sale, the chief technology officer now owns 52,997 shares in the company, valued at approximately $10,818,277.61. This trade represents a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,322 shares of company stock worth $2,562,751. Company insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

A number of hedge funds have recently made changes to their positions in IDCC. SG Americas Securities LLC purchased a new position in InterDigital during the third quarter valued at $417,000. CWM LLC raised its position in shares of InterDigital by 34.0% in the 3rd quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 216 shares during the last quarter. Cardinal Capital Management boosted its stake in InterDigital by 10.2% in the 3rd quarter. Cardinal Capital Management now owns 13,888 shares of the Wireless communications provider’s stock worth $1,967,000 after purchasing an additional 1,291 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in InterDigital during the 3rd quarter valued at about $26,000. Finally, Blue Trust Inc. increased its stake in InterDigital by 9.4% during the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after purchasing an additional 101 shares in the last quarter. 99.83% of the stock is owned by 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.