InterDigital (NASDAQ:IDCC) Reaches New 52-Week High – What’s Next?

InterDigital, Inc. (NASDAQ:IDCC) shares reached a new 52-week high on Thursday . The stock traded as high as $231.97 and last traded at $209.87, with a volume of 74214 shares. The stock had previously closed at $204.17.

InterDigital Trading Up 2.5 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The business’s 50 day moving average price is $194.65 and its 200-day moving average price is $172.89. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, April 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio (DPR) is currently 19.93%.

Insider Activity

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of InterDigital stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $214.51, for a total value of $75,078.50. Following the completion of the transaction, the insider now owns 30,537 shares of the company’s stock, valued at $6,550,491.87. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Brezski sold 9,602 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the sale, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,134 shares of company stock worth $4,678,770. 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 bought and sold shares of IDCC. Global Retirement Partners LLC lifted its holdings in shares of InterDigital by 504.5% in the 4th quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after purchasing an additional 111 shares during the last quarter. Elequin Capital LP bought a new position in InterDigital during the 4th quarter worth $29,000. Transcendent Capital Group LLC acquired a new stake in InterDigital in the third quarter worth $25,000. Prudent Man Investment Management Inc. bought a new stake in InterDigital in the fourth quarter valued at $39,000. Finally, Mendota Financial Group LLC boosted its holdings in shares of InterDigital by 14,500.0% during the fourth quarter. Mendota Financial Group LLC now owns 292 shares of the Wireless communications provider’s stock valued at $57,000 after acquiring an additional 290 shares during the period. 99.83% 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, 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.