InterDigital (NASDAQ:IDCC) Sets New 1-Year High – Still a Buy?

InterDigital, Inc. (NASDAQ:IDCC)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $164.32 and last traded at $156.17, with a volume of 37330 shares changing hands. The stock had previously closed at $147.72.

Analyst Upgrades and Downgrades

IDCC has been the subject of a number of research analyst reports. Roth Mkm upped their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. StockNews.com raised shares of InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th.

InterDigital Stock Performance

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 firm has a fifty day moving average price of $141.90 and a 200 day moving average price of $125.41. The firm has a market cap of $3.76 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 0.97 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The company had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. As a group, equities research analysts expect that InterDigital, Inc. will post 9.06 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is presently 26.47%.

Insider Activity at InterDigital

In other InterDigital news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Kritzmacher sold 2,500 shares of the business’s 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 sale, the director now directly owns 20,279 shares in the company, valued at approximately $2,813,102.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,205 shares of company stock worth $716,218. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of InterDigital during the third quarter worth about $26,000. 1620 Investment Advisors Inc. acquired a new stake in InterDigital during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in InterDigital by 50.8% during the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 124 shares in the last quarter. Nisa Investment Advisors LLC boosted its position 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 buying an additional 109 shares during the period. Finally, Palisade Asset Management LLC acquired a new position in shares of InterDigital in the first quarter worth $64,000. 99.83% of the stock is owned by institutional investors and hedge funds.

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.