InterDigital (NASDAQ:IDCC) Hits New 52-Week High – Should You Buy?

InterDigital, Inc. (NASDAQ:IDCC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $199.82 and last traded at $199.76, with a volume of 167926 shares trading hands. The stock had previously closed at $196.57.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IDCC shares. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Roth Mkm boosted their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

InterDigital Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 0.84 and a beta of 1.44. The stock has a 50 day moving average price of $166.50 and a 200-day moving average price of $139.83.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, October 9th. This is a boost from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s payout ratio is 19.23%.

Insider Activity

In other news, insider Joshua D. Schmidt sold 140 shares of InterDigital stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the sale, the insider now owns 24,138 shares of the company’s stock, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Kritzmacher sold 2,500 shares of the company’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 in the company, valued at approximately $2,813,102.88. This trade represents a 10.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,340 shares of company stock worth $472,253 over the last three months. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale increased its holdings in InterDigital by 93.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,479 shares of the Wireless communications provider’s stock valued at $262,000 after purchasing an additional 1,199 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the period. CWM LLC raised its holdings in shares of InterDigital by 41.7% in the 2nd quarter. CWM LLC now owns 635 shares of the Wireless communications provider’s stock valued at $74,000 after buying an additional 187 shares during the period. Cardinal Capital Management lifted its stake in InterDigital by 6.6% during the 2nd quarter. Cardinal Capital Management now owns 12,597 shares of the Wireless communications provider’s stock worth $1,468,000 after acquiring an additional 780 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in InterDigital by 11.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 3,134 shares of the Wireless communications provider’s stock valued at $365,000 after acquiring an additional 329 shares during the period. Institutional investors and hedge funds 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.