InterDigital (NASDAQ:IDCC) Hits New 1-Year High – Should You Buy?

Shares of InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high during trading on Thursday . The company traded as high as $214.98 and last traded at $212.19, with a volume of 33527 shares. The stock had previously closed at $210.14.

Analyst Upgrades and Downgrades

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 business has a 50-day moving average of $190.07 and a 200 day moving average of $165.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.70 and a quick ratio of 1.62. The company has a market cap of $5.43 billion, a PE ratio of 17.80, a PEG ratio of 2.41 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.12%. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. InterDigital’s dividend payout ratio is presently 14.95%.

Insider Transactions at InterDigital

In other news, CEO Lawrence Liren Chen sold 5,891 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the sale, the chief executive officer now directly owns 164,543 shares in the company, valued at $32,141,829.62. This represents a 3.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was 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 directly owns 24,138 shares in the company, valued at approximately $4,397,702.22. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,322 shares of company stock worth $2,562,751 in the last quarter. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On InterDigital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Congress Asset Management Co. bought a new position in shares of InterDigital in the fourth quarter worth approximately $62,583,000. Price T Rowe Associates Inc. MD boosted its holdings in InterDigital by 1,451.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider’s stock worth $57,986,000 after buying an additional 280,030 shares during the period. Reinhart Partners LLC. boosted its holdings in InterDigital by 83.8% in the 4th quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after buying an additional 164,223 shares during the period. International Assets Investment Management LLC increased its stake in InterDigital by 283,160.0% in the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider’s stock worth $16,047,000 after buying an additional 113,264 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in InterDigital during the fourth quarter valued at about $19,572,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

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.