InterDigital, Inc. (NASDAQ:IDCC) Increases Dividend to $0.60 Per Share

InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Wednesday, April 9th will be paid a dividend of 0.60 per share by the Wireless communications provider on Wednesday, April 23rd. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, April 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.45.

InterDigital has raised its dividend payment by an average of 6.7% annually over the last three years. InterDigital has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect InterDigital to earn $5.87 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 30.7%.

InterDigital Price Performance

NASDAQ:IDCC traded down $5.48 during trading hours on Friday, reaching $206.31. 381,330 shares of the company were exchanged, compared to its average volume of 389,376. The business has a 50 day moving average of $188.57 and a 200 day moving average of $162.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital has a 1-year low of $95.33 and a 1-year high of $213.38. The company has a market capitalization of $5.23 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.08 and a beta of 1.44.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $185.00, for a total value of $129,500.00. Following the completion of the transaction, the chief technology officer now directly owns 52,396 shares in the company, valued at approximately $9,693,260. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $195.34, for a total value of $1,150,747.94. Following the completion of the transaction, the chief executive officer now owns 164,543 shares of the company’s stock, valued at $32,141,829.62. The trade was a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,322 shares of company stock worth $2,562,751 over the last three months. Insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

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.