InterDigital (NASDAQ:IDCC) Hits New 1-Year High at $140.70

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $140.70 and last traded at $140.70, with a volume of 134017 shares traded. The stock had previously closed at $137.83.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Roth Mkm upped their target price 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 raised InterDigital from a "hold" rating to a "buy" rating in a report on Thursday, August 22nd.

InterDigital Trading Up 0.5 %

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.50 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 0.84 and a beta of 1.39. The business has a 50-day simple moving average of $131.85 and a 200-day simple moving average of $116.22.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. On average, analysts predict that InterDigital, Inc. will post 9.05 EPS for the current fiscal year.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be paid a $0.45 dividend. This is an increase from InterDigital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. InterDigital's payout ratio is 26.47%.

Insider Activity

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the sale, the director now owns 7,639 shares of the company's stock, valued at approximately $1,026,681.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Wellington Management Group LLP grew its holdings in shares of InterDigital by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider's stock worth $8,539,000 after buying an additional 10,926 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in InterDigital in the fourth quarter valued at $13,309,000. Trexquant Investment LP purchased a new position in shares of InterDigital during the 4th quarter worth about $1,779,000. Norges Bank acquired a new stake in shares of InterDigital during the 4th quarter worth $18,987,000. Finally, Duality Advisers LP increased its stake in InterDigital by 1,380.5% during the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider's stock worth $3,441,000 after acquiring an additional 30,137 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company's stock.

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.