InterDigital (NASDAQ:IDCC) Hits New 12-Month High – Should You Buy?

Shares of InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $188.25 and last traded at $188.25, with a volume of 19845 shares traded. The stock had previously closed at $187.72.

Analyst Ratings Changes

A number of brokerages have issued reports on IDCC. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Stock Performance

The company has a market cap of $4.77 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.77 and a beta of 1.38. The firm’s fifty day moving average is $147.72 and its 200 day moving average is $129.82. 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is currently 19.23%.

Insider Buying and Selling

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of InterDigital 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 completion of the sale, the director now owns 7,639 shares in the company, valued at $1,026,681.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at $1,026,681.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock valued at $716,218 over the last three months. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Icon Wealth Advisors LLC raised its holdings in InterDigital by 161.1% during the third quarter. Icon Wealth Advisors LLC now owns 9,140 shares of the Wireless communications provider’s stock worth $1,294,000 after acquiring an additional 5,640 shares in the last quarter. Intech Investment Management LLC raised its position in shares of InterDigital by 658.8% during the third quarter. Intech Investment Management LLC now owns 29,728 shares of the Wireless communications provider’s stock worth $4,210,000 after acquiring an additional 25,810 shares during the last quarter. Moran Wealth Management LLC increased its holdings in shares of InterDigital by 37.9% during the third quarter. Moran Wealth Management LLC now owns 3,956 shares of the Wireless communications provider’s stock valued at $560,000 after acquiring an additional 1,087 shares in the last quarter. Caprock Group LLC boosted its position in shares of InterDigital by 8.9% during the third quarter. Caprock Group LLC now owns 3,156 shares of the Wireless communications provider’s stock valued at $447,000 after buying an additional 257 shares during the last quarter. Finally, Natixis Advisors LLC purchased a new position in InterDigital in the 3rd quarter valued at approximately $1,427,000. 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.