Shares of InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $214.98 and last traded at $212.19, with a volume of 33527 shares traded. The stock had previously closed at $210.14.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Monday, November 4th.
Get Our Latest Stock Report on IDCC
InterDigital Price Performance
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 stock has a market cap of $5.43 billion, a PE ratio of 17.80, a PEG ratio of 2.41 and a beta of 1.44. The business has a 50-day moving average price of $190.07 and a 200 day moving average price of $166.58.
InterDigital Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be paid a $0.60 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.12%. InterDigital's dividend payout ratio (DPR) is presently 14.95%.
Insider Transactions at InterDigital
In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total value of $129,500.00. Following the sale, the chief technology officer now directly owns 52,396 shares in the company, valued at $9,693,260. This represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total value of $1,114,105.92. Following the completion of the sale, the chief executive officer now owns 158,652 shares in the company, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,322 shares of company stock valued at $2,562,751 over the last three months. Company insiders own 2.30% of the company's stock.
Institutional Trading of InterDigital
Institutional investors and hedge funds have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in InterDigital in the third quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in shares of InterDigital during the 3rd quarter valued at about $26,000. Global Retirement Partners LLC raised its holdings in shares of InterDigital by 504.5% during the 4th 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 in the last quarter. Prudent Man Investment Management Inc. bought a new stake in InterDigital in the 4th quarter worth approximately $39,000. Finally, Mendota Financial Group LLC boosted 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. Hedge funds and other institutional investors own 99.83% of the company's stock.
About InterDigital
(
Get Free Report)
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.
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