InterDigital (NASDAQ:IDCC) Sets New 52-Week High – Still a Buy?

InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $207.08 and last traded at $203.17, with a volume of 32332 shares changing hands. The stock had previously closed at $203.33.

Analyst Ratings Changes

Several research firms have recently commented on IDCC. Roth Mkm increased their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

InterDigital Price Performance

The business has a fifty day moving average of $186.47 and a 200 day moving average of $152.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market cap of $5.08 billion, a PE ratio of 21.42, a P/E/G ratio of 0.95 and a beta of 1.44.

InterDigital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.90%. InterDigital’s dividend payout ratio (DPR) is presently 19.23%.

Insider Activity at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction on 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 of the company’s stock, valued at $4,397,702.22. The trade was a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total transaction of $1,150,747.94. Following the sale, the chief executive officer now directly owns 164,543 shares in the company, valued at $32,141,829.62. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,922 shares of company stock valued at $2,290,360 over the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On InterDigital

Several institutional investors and hedge funds have recently bought and sold shares of IDCC. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital during the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC bought a new position in InterDigital during the 3rd quarter worth $26,000. Nisa Investment Advisors LLC increased its position in InterDigital by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 629 shares of the Wireless communications provider’s stock worth $89,000 after buying an additional 233 shares during the period. GAMMA Investing LLC lifted its stake in InterDigital by 81.3% in the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock valued at $94,000 after buying an additional 299 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of InterDigital by 34.0% during the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds 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.