InterDigital (NASDAQ:IDCC) Sees Unusually-High Trading Volume

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) shares saw an uptick in trading volume on Thursday . 1,068,786 shares traded hands during mid-day trading, an increase of 119% from the previous session's volume of 487,630 shares.The stock last traded at $96.65 and had previously closed at $95.84.

Analyst Ratings Changes

A number of brokerages recently weighed in on IDCC. StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. Bank of America reiterated an "underperform" rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a research report on Monday.

InterDigital Trading Down 0.1 %

The business has a 50 day moving average of $105.47 and a 200-day moving average of $98.04. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.44 billion, a P/E ratio of 12.77, a PEG ratio of 0.78 and a beta of 1.34.

InterDigital (NASDAQ:IDCC - Get Free Report) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. The business had revenue of $105.52 million during the quarter, compared to analysts' expectations of $104.31 million. Analysts anticipate that InterDigital, Inc. will post 7.13 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 10th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a yield of 1.67%. InterDigital's payout ratio is 21.33%.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 650 shares of the firm's stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $103.91, for a total transaction of $67,541.50. Following the completion of the transaction, the chief technology officer now directly owns 56,487 shares of the company's stock, valued at approximately $5,869,564.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Joshua D. Schmidt sold 336 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $107.74, for a total value of $36,200.64. Following the completion of the sale, the insider now owns 18,267 shares of the company's stock, valued at approximately $1,968,086.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $103.91, for a total value of $67,541.50. Following the completion of the sale, the chief technology officer now directly owns 56,487 shares of the company's stock, valued at approximately $5,869,564.17. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On InterDigital

Large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new stake in shares of InterDigital in the 2nd quarter valued at approximately $39,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of InterDigital in the 3rd quarter valued at approximately $68,000. Quadrant Capital Group LLC boosted its holdings in shares of InterDigital by 11.6% in the 4th quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider's stock valued at $107,000 after buying an additional 103 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider's stock valued at $84,000 after buying an additional 114 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of InterDigital by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider's stock valued at $104,000 after buying an additional 143 shares during the last quarter. 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.