InterDigital (NASDAQ:IDCC) Sets New 1-Year High – Still a Buy?

InterDigital, Inc. (NASDAQ:IDCC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $174.28 and last traded at $174.28, with a volume of 5116 shares traded. The stock had previously closed at $168.84.

Analysts Set New Price Targets

A number of analysts have recently commented on IDCC shares. StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday. Roth Mkm increased their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Price Performance

The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 1.05 and a beta of 1.38. The company has a 50 day simple moving average of $145.85 and a 200-day simple moving average of $128.19. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This is a boost from InterDigital’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

Insider Activity

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the firm’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 completion of the transaction, the director now directly owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now owns 54,984 shares in the company, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock worth $716,218 over the last ninety days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

A number of institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its position in InterDigital by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 22,495 shares of the Wireless communications provider’s stock worth $2,395,000 after purchasing an additional 291 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of InterDigital during the 1st quarter worth about $341,000. Inspire Investing LLC boosted its holdings in shares of InterDigital by 10.9% during the 1st quarter. Inspire Investing LLC now owns 11,660 shares of the Wireless communications provider’s stock worth $1,241,000 after buying an additional 1,148 shares during the period. Headlands Technologies LLC grew its stake in InterDigital by 108,450.0% in the 1st quarter. Headlands Technologies LLC now owns 2,171 shares of the Wireless communications provider’s stock valued at $231,000 after buying an additional 2,169 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of InterDigital by 294,025.0% in the first quarter. Russell Investments Group Ltd. now owns 11,765 shares of the Wireless communications provider’s stock valued at $1,253,000 after purchasing an additional 11,761 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.