InterDigital (NASDAQ:IDCC) Sets New 52-Week High – Time to Buy?

InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high on Wednesday . The company traded as high as $157.14 and last traded at $156.90, with a volume of 144404 shares. The stock had previously closed at $153.75.

Wall Street Analysts Forecast Growth

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

InterDigital Stock Down 1.0 %

The stock’s 50-day moving average price is $139.82 and its two-hundred day moving average price is $122.26. 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 stock has a market capitalization of $3.89 billion, a P/E ratio of 22.67, a P/E/G ratio of 0.94 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The business had revenue of $223.49 million during the quarter, compared to analyst estimates of $95.63 million. As a group, research analysts expect that InterDigital, Inc. will post 9.04 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 annualized dividend and a yield of 1.17%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is 26.47%.

Insider Buying and Selling at InterDigital

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares in the company, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,205 shares of company stock valued at $716,218 over the last three months. 2.30% of the stock is currently owned by insiders.

Institutional Trading of InterDigital

Large investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its stake in InterDigital by 51,337.0% during the second quarter. Pacer Advisors Inc. now owns 743,265 shares of the Wireless communications provider’s stock worth $86,635,000 after purchasing an additional 741,820 shares during the last quarter. Reinhart Partners LLC. bought a new stake in InterDigital in the 3rd quarter worth approximately $27,762,000. Emerald Advisers LLC boosted its stake in InterDigital by 127,997.9% in the second quarter. Emerald Advisers LLC now owns 120,412 shares of the Wireless communications provider’s stock worth $14,035,000 after buying an additional 120,318 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in InterDigital by 473.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 96,469 shares of the Wireless communications provider’s stock valued at $11,244,000 after acquiring an additional 79,648 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of InterDigital by 164.2% during the second quarter. Envestnet Asset Management Inc. now owns 117,826 shares of the Wireless communications provider’s stock worth $13,734,000 after acquiring an additional 73,227 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

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.