InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $207.08 and last traded at $203.17, with a volume of 32332 shares. The stock had previously closed at $203.33.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.
Read Our Latest Stock Report on InterDigital
InterDigital Price Performance
The stock has a fifty day simple moving average of $187.60 and a 200-day simple moving average of $152.94. The company has a market capitalization of $5.11 billion, a PE ratio of 21.56, a P/E/G ratio of 0.95 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, January 8th. InterDigital's dividend payout ratio (DPR) is 19.23%.
Insider Buying and Selling at InterDigital
In related news, CEO Lawrence Liren Chen sold 5,891 shares of the company's stock in a transaction dated 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 directly owns 158,652 shares of the company's stock, valued at $30,004,266.24. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total value of $25,506.60. Following the transaction, the insider now owns 24,138 shares in the company, valued at $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,922 shares of company stock worth $2,290,360 over the last three months. Insiders own 2.30% of the company's stock.
Institutional Investors Weigh In On InterDigital
Several large investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its position in InterDigital by 51,337.0% in the 2nd quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider's stock valued at $86,635,000 after purchasing an additional 741,820 shares during the last quarter. Reinhart Partners LLC. purchased a new stake in shares of InterDigital in the third quarter valued at about $27,762,000. Emerald Advisers LLC boosted its stake in shares of InterDigital by 127,997.9% during the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider's stock worth $14,035,000 after buying an additional 120,318 shares during the period. International Assets Investment Management LLC grew its holdings in shares of InterDigital by 283,160.0% during the third quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after buying an additional 113,264 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in InterDigital by 473.5% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider's stock valued at $11,244,000 after acquiring an additional 79,648 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.
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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