InterDigital, Inc. (NASDAQ:IDCC) Announces $0.60 Quarterly Dividend

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) announced a quarterly dividend on Thursday, June 12th, RTT News reports. Shareholders of record on Wednesday, July 9th will be given a dividend of 0.60 per share by the Wireless communications provider on Wednesday, July 23rd. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, July 9th.

InterDigital has a dividend payout ratio of 36.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect InterDigital to earn $6.86 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 35.0%.

InterDigital Price Performance

NASDAQ IDCC traded down $3.33 during trading on Friday, reaching $218.51. 178,275 shares of the company traded hands, compared to its average volume of 384,969. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. The stock's 50 day moving average price is $209.36 and its two-hundred day moving average price is $202.58. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.57 and a beta of 1.37. InterDigital has a 1-year low of $114.56 and a 1-year high of $231.97.

Insider Activity

In related news, Director Samir Armaly sold 779 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.52, for a total value of $176,459.08. Following the completion of the transaction, the director now owns 3,128 shares in the company, valued at $708,554.56. The trade was a 19.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John A. Kritzmacher sold 519 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $226.65, for a total transaction of $117,631.35. Following the completion of the transaction, the director now owns 19,774 shares of the company's stock, valued at $4,481,777.10. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,777 shares of company stock worth $1,255,642. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in InterDigital stock. NewEdge Advisors LLC increased its stake in InterDigital, Inc. (NASDAQ:IDCC - Free Report) by 37.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,911 shares of the Wireless communications provider's stock after purchasing an additional 1,069 shares during the period. NewEdge Advisors LLC's holdings in InterDigital were worth $809,000 as of its most recent SEC filing. 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.