InterDigital (NASDAQ:IDCC) Reaches New 12-Month High - Here's What Happened

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $164.32 and last traded at $156.17, with a volume of 37330 shares changing hands. The stock had previously closed at $147.72.

Analysts Set New Price Targets

A number of equities analysts have issued reports on IDCC shares. Roth Mkm raised 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. StockNews.com upgraded shares of InterDigital from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th.

InterDigital Trading Up 1.8 %

The business has a 50 day simple moving average of $141.90 and a 200-day simple moving average of $125.41. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 0.97 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51.

InterDigital (NASDAQ:IDCC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. As a group, equities analysts expect that InterDigital, Inc. will post 9.06 earnings per share for the current year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a $0.45 dividend. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.20%. InterDigital's dividend payout ratio is presently 26.47%.

Insider Buying and Selling

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares in the company, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the sale, the director now owns 20,279 shares of the company's stock, valued at approximately $2,813,102.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the transaction, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,205 shares of company stock worth $716,218. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of InterDigital

A number of hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of InterDigital during the 3rd quarter worth about $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of InterDigital in the second quarter valued at approximately $29,000. GAMMA Investing LLC grew its position in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock valued at $43,000 after purchasing an additional 124 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after purchasing an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new stake in InterDigital during the 1st quarter worth approximately $64,000. 99.83% of the stock is 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.