InterDigital (NASDAQ:IDCC) Sets New 12-Month High - What's Next?

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $232.70 and last traded at $230.88, with a volume of 45697 shares trading hands. The stock had previously closed at $227.41.

InterDigital Stock Performance

The stock's 50-day moving average is $211.60 and its 200 day moving average is $203.57. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 1.45 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.76 and a quick ratio of 1.76.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.03%. InterDigital's dividend payout ratio (DPR) is 19.03%.

Insider Transactions at InterDigital

In other news, Director Jean F. Rankin sold 606 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $226.47, for a total value of $137,240.82. Following the completion of the transaction, the director now directly owns 27,353 shares in the company, valued at $6,194,633.91. This trade represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Rajesh Pankaj sold 700 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $181.03, for a total value of $126,721.00. Following the completion of the sale, the chief technology officer now owns 78,161 shares of the company's stock, valued at $14,149,485.83. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,296 shares of company stock worth $714,728. Insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of InterDigital by 0.9% in the 4th quarter. Rhumbline Advisers now owns 75,604 shares of the Wireless communications provider's stock worth $14,646,000 after purchasing an additional 646 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of InterDigital by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 143,373 shares of the Wireless communications provider's stock worth $27,774,000 after acquiring an additional 6,357 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of InterDigital by 3.4% during the fourth quarter. Sanctuary Advisors LLC now owns 6,593 shares of the Wireless communications provider's stock valued at $1,218,000 after acquiring an additional 217 shares during the period. New York State Common Retirement Fund lifted its position in shares of InterDigital by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 8,090 shares of the Wireless communications provider's stock valued at $1,567,000 after acquiring an additional 173 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of InterDigital by 504.5% in the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider's stock worth $26,000 after buying an additional 111 shares during the period. 99.83% of the stock is owned by institutional investors and hedge funds.

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.

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