InterDigital (NASDAQ:IDCC) Hits New 52-Week High – What’s Next?

InterDigital, Inc. (NASDAQ:IDCC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $213.37 and last traded at $211.79, with a volume of 1008385 shares traded. The stock had previously closed at $182.50.

Wall Street Analysts Forecast Growth

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

InterDigital Stock Performance

The stock has a market capitalization of $5.37 billion, a PE ratio of 22.63, a PEG ratio of 2.08 and a beta of 1.44. The business has a 50 day moving average price of $188.57 and a 200 day moving average price of $162.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62.

InterDigital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Wednesday, January 8th. InterDigital’s payout ratio is 19.23%.

Insider Buying and Selling

In related news, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the transaction, the chief executive officer now owns 164,543 shares in the company, valued at $32,141,829.62. This represents a 3.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares in the company, valued at $4,397,702.22. This represents a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,622 shares of company stock worth $2,433,251 in the last three months. Insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

A number of hedge funds have recently bought and sold shares of the company. One Wealth Advisors LLC grew its stake in shares of InterDigital by 1.8% during the 4th quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock valued at $697,000 after purchasing an additional 64 shares during the period. Savant Capital LLC boosted its holdings in shares of InterDigital by 2.8% in the fourth quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock worth $461,000 after buying an additional 64 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of InterDigital by 0.5% in the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after buying an additional 68 shares during the last quarter. Simplicity Wealth LLC grew its position in InterDigital by 1.5% during the third quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after buying an additional 69 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in InterDigital by 0.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the Wireless communications provider’s stock worth $2,383,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors 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.