InterDigital, Inc. (NASDAQ:IDCC) Plans Dividend Increase – $0.45 Per Share

InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Tuesday, September 10th, Zacks reports. Stockholders of record on Wednesday, October 9th will be paid a dividend of 0.45 per share by the Wireless communications provider on Wednesday, October 23rd. This represents a $1.80 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, October 9th. This is an increase from InterDigital’s previous quarterly dividend of $0.40.

InterDigital has raised its dividend by an average of 1.2% annually over the last three years. InterDigital has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect InterDigital to earn $4.06 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 44.3%.

InterDigital Trading Up 0.7 %

Shares of NASDAQ:IDCC opened at $132.22 on Thursday. The business’s 50-day moving average is $130.12 and its 200 day moving average is $115.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. InterDigital has a 1 year low of $74.65 and a 1 year high of $140.60. The firm has a market capitalization of $3.34 billion, a P/E ratio of 19.44, a P/E/G ratio of 0.84 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last posted its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $3.77. The firm had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. On average, research analysts predict that InterDigital will post 9.05 earnings per share for the current fiscal year.

Insider Activity at InterDigital

In other InterDigital news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value 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 legal filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Roth Mkm raised their price target on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research report on Thursday, August 22nd.

About InterDigital

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.