InterDigital (NASDAQ:IDCC) Stock Price Up 7.8% – Should You Buy?

InterDigital, Inc. (NASDAQ:IDCC) shares shot up 7.8% on Friday . The stock traded as high as $163.54 and last traded at $162.16. 309,495 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 457,789 shares. The stock had previously closed at $150.44.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IDCC shares. Roth Mkm lifted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th.

InterDigital Trading Up 8.9 %

The firm has a market capitalization of $4.12 billion, a PE ratio of 15.97, a PEG ratio of 0.93 and a beta of 1.39. The firm’s fifty day moving average is $141.90 and its two-hundred day moving average is $125.41. 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 (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, topping the consensus estimate of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The business had revenue of $223.49 million for the quarter, compared to analysts’ expectations of $95.63 million. On average, equities analysts predict that InterDigital, Inc. will post 9.06 EPS for the current fiscal year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.10%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s payout ratio is presently 18.11%.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 sale, the director now owns 20,279 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the business’s 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 sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. This trade represents 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 worth $716,218 over the last three months. 2.30% of the stock is currently owned by insiders.

Institutional Trading of InterDigital

Several institutional investors and hedge funds have recently made changes to their positions in IDCC. Simplicity Wealth LLC increased its stake in InterDigital by 1.5% in the third 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 last quarter. Miller Howard Investments Inc. NY increased its stake in InterDigital by 2.0% in the second 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 last quarter. Blue Trust Inc. increased its stake in InterDigital by 9.4% in the third 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 last quarter. Nisa Investment Advisors LLC increased its stake in InterDigital by 38.0% in the second 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 last quarter. Finally, GAMMA Investing LLC increased its stake in InterDigital by 50.8% in the second 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 last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

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.