InterDigital (NASDAQ:IDCC) Hits New 12-Month High – Here’s What Happened

InterDigital, Inc. (NASDAQ:IDCC)’s stock price reached 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 trading hands. The stock had previously closed at $210.14.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Trading Up 1.1 %

The company has a quick ratio of 1.62, a current ratio of 1.70 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $189.29 and a 200 day moving average of $164.97. The firm has a market cap of $5.38 billion, a PE ratio of 17.66, a P/E/G ratio of 2.41 and a beta of 1.44.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $2.40 annualized dividend and a yield of 1.13%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio (DPR) is 14.95%.

Insider Activity at InterDigital

In other news, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total value of $25,506.60. Following the completion of the transaction, the insider now owns 24,138 shares in the company, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $185.00, for a total transaction of $129,500.00. Following the sale, the chief technology officer now owns 52,396 shares in the company, valued at $9,693,260. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,322 shares of company stock worth $2,562,751. Company insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

Several institutional investors and hedge funds have recently modified their holdings of IDCC. Transcendent Capital Group LLC purchased a new position in shares of InterDigital in the third quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in InterDigital in the third quarter worth $26,000. Global Retirement Partners LLC boosted its stake 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 purchasing an additional 111 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of InterDigital in the 4th quarter worth approximately $39,000. Finally, Mendota Financial Group LLC grew 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 purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

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.