InterDigital (NASDAQ:IDCC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of InterDigital (NASDAQ:IDCC) from a buy rating to a hold rating in a report issued on Monday.

Separately, Roth Mkm lifted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

InterDigital Stock Performance

NASDAQ IDCC opened at $177.29 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.03. The company has a market cap of $4.49 billion, a P/E ratio of 18.94, a PEG ratio of 1.05 and a beta of 1.38. The company has a fifty day simple moving average of $145.00 and a 200 day simple moving average of $127.83. InterDigital has a 12-month low of $84.41 and a 12-month high of $178.72.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.02%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. InterDigital’s payout ratio is presently 19.23%.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction on Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now owns 20,279 shares in the company, valued at $2,813,102.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock worth $716,218 in the last ninety days. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On InterDigital

A number of hedge funds have recently made changes to their positions in IDCC. Simplicity Wealth LLC raised its stake in InterDigital by 1.5% in the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock valued at $665,000 after acquiring an additional 69 shares during the period. Miller Howard Investments Inc. NY raised its stake in InterDigital by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock valued at $536,000 after acquiring an additional 90 shares during the period. Blue Trust Inc. raised its stake in InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock valued at $166,000 after acquiring an additional 101 shares during the period. Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 109 shares during the period. Finally, GAMMA Investing LLC raised its stake in 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 acquiring an additional 124 shares during the period. 99.83% of the stock is currently owned by 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.