InterDigital, Inc. (NASDAQ:IDCC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $141.76 and last traded at $141.37, with a volume of 60155 shares traded. The stock had previously closed at $138.45.
Several equities research analysts have recently weighed in on IDCC shares. StockNews.com raised shares of InterDigital from a "hold" rating to a "buy" rating in a research report on Thursday, August 22nd. Roth Mkm lifted their target price on InterDigital from $146.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th.
Read Our Latest Report on IDCC
The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 0.88 and a beta of 1.39. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $133.43 and a two-hundred day moving average price of $117.34.
InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million during the quarter, compared to analysts' expectations of $95.63 million. As a group, research analysts forecast that InterDigital, Inc. will post 9.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, October 9th. This is a positive change from InterDigital's previous quarterly dividend of $0.40. InterDigital's payout ratio is 26.47%.
In other news, Director John A. Kritzmacher sold 2,500 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John A. Kritzmacher sold 2,500 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total transaction of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares of the company's stock, valued at $2,813,102.88. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in shares of InterDigital in the second quarter worth $29,000. Riverview Trust Co acquired a new stake in InterDigital during the 1st quarter worth about $31,000. GAMMA Investing LLC grew its stake in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider's stock valued at $43,000 after acquiring an additional 124 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of InterDigital by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider's stock worth $46,000 after purchasing an additional 109 shares in the last quarter. Finally, Palisade Asset Management LLC acquired a new stake in shares of InterDigital during the first quarter worth approximately $64,000. Institutional investors and hedge funds own 99.83% of the company's stock.
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.
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