InterDigital (NASDAQ:IDCC) Reaches New 52-Week High at $140.60

InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $140.60 and last traded at $140.52, with a volume of 35180 shares changing hands. The stock had previously closed at $139.29.

Analysts Set New Price Targets

IDCC has been the topic of a number of analyst reports. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group reiterated a “hold” rating and issued a $100.00 target price (down previously from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

InterDigital Trading Up 0.3 %

The company has a 50 day moving average of $122.61 and a two-hundred day moving average of $111.07. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.34 and a current ratio of 1.51. The stock has a market capitalization of $3.51 billion, a PE ratio of 20.43, a P/E/G ratio of 1.18 and a beta of 1.42.

InterDigital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, July 10th. InterDigital’s dividend payout ratio (DPR) is presently 23.53%.

Insider Buying and Selling at InterDigital

In related news, Director John D. Jr. Markley sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the sale, the director now owns 12,202 shares in the company, valued at $1,406,646.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On InterDigital

Several hedge funds have recently added to or reduced their stakes in IDCC. 1620 Investment Advisors Inc. purchased a new stake in shares of InterDigital in the second quarter worth about $29,000. Riverview Trust Co purchased a new position in shares of InterDigital during the 1st quarter valued at approximately $31,000. GAMMA Investing LLC lifted its stake in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after purchasing an additional 124 shares during the period. Nisa Investment Advisors LLC grew its position in InterDigital by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares during the period. Finally, Palisade Asset Management LLC purchased a new position in InterDigital in the first quarter valued at $64,000. 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.