InterDigital (NASDAQ:IDCC) Reaches New 12-Month High – Here’s Why

InterDigital, Inc. (NASDAQ:IDCC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $199.82 and last traded at $199.76, with a volume of 167926 shares changing hands. The stock had previously closed at $196.57.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IDCC shares. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Stock Up 1.8 %

The stock has a 50-day moving average price of $164.00 and a 200-day moving average price of $138.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $5.07 billion, a P/E ratio of 21.16, a P/E/G ratio of 0.82 and a beta of 1.44.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.90%. This is an increase from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is 19.23%.

Insider Transactions at InterDigital

In related news, insider Joshua D. Schmidt sold 140 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the transaction, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock worth $472,253 over the last three months. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On InterDigital

A number of institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of InterDigital by 93.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,479 shares of the Wireless communications provider’s stock valued at $262,000 after acquiring an additional 1,199 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 124 shares during the period. CWM LLC boosted its holdings in shares of InterDigital by 41.7% in the 2nd quarter. CWM LLC now owns 635 shares of the Wireless communications provider’s stock worth $74,000 after buying an additional 187 shares during the last quarter. Juncture Wealth Strategies LLC boosted its stake in InterDigital by 1.4% in the second quarter. Juncture Wealth Strategies LLC now owns 9,943 shares of the Wireless communications provider’s stock valued at $1,159,000 after acquiring an additional 134 shares during the last quarter. Finally, Cardinal Capital Management grew its holdings in InterDigital by 6.6% during the second quarter. Cardinal Capital Management now owns 12,597 shares of the Wireless communications provider’s stock valued at $1,468,000 after purchasing an additional 780 shares during the period. 99.83% of the stock is owned by institutional investors.

About InterDigital

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.