InterDigital, Inc., together with its subsidiaries, designs and develops technologies that enable and enhance wireless communications in the United States, China, South Korea, Japan, Taiwan, and Europe. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks. The company develops cellular technologies, such as technologies related to CDMA, TDMA, OFDM/OFDMA, and MIMO for use in 2G, 3G, 4G, and 5G wireless networks, as well as mobile terminal devices; and 3GPP technology portfolio in 5G NR, beyond 5G (B5G), extended reality over wireless, and cellular Internet of Things (IoT) areas, as well as technologies for automobiles, wearables, smart homes, drones, and other connected consumer electronic products. It also provides video coding and transmission technologies; and engages in the research and development of artificial intelligence. The company's patented technologies are used in various products that include cellular phones, tablets, notebook computers, and wireless personal digital assistants; wireless infrastructure equipment, which comprise base stations; components, dongles, and modules for wireless devices; and IoT devices and software platforms. As of December 31, 2021, it had a portfolio of approximately 27,500 patents and patent applications related to wireless communications, video coding, display technology, and other areas. InterDigital, Inc. was incorporated in 1972 and is headquartered in Wilmington, Delaware.
InterDigital Stock Up 1.4 %
Shares of IDCC traded up $0.77 during trading hours on Friday, reaching $55.99. 229,960 shares of the stock traded hands, compared to its average volume of 229,480. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 1.54 and a beta of 0.98. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $61.41 and a 200 day simple moving average of $62.48. InterDigital has a 52 week low of $54.43 and a 52 week high of $74.62.
InterDigital Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, July 12th. This represents a $1.40 annualized dividend and a yield of 2.50%. InterDigital's payout ratio is presently 50.00%.
Analyst Upgrades and Downgrades
IDCC has been the subject of a number of analyst reports. Bank of America started coverage on shares of InterDigital in a research note on Wednesday, August 3rd. They set an "underperform" rating and a $60.00 price target for the company. StockNews.com lowered shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Friday, August 5th.
Insider Buying and Selling at InterDigital
In other news, Director Jean F. Rankin sold 814 shares of the business's stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $66.83, for a total value of $54,399.62. Following the completion of the sale, the director now directly owns 28,441 shares in the company, valued at approximately $1,900,712.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jean F. Rankin sold 814 shares of InterDigital stock in a transaction on Monday, June 6th. The shares were sold at an average price of $66.83, for a total value of $54,399.62. Following the transaction, the director now directly owns 28,441 shares of the company's stock, valued at $1,900,712.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eeva K. Hakoranta sold 1,595 shares of the business's stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $61.44, for a total transaction of $97,996.80. Following the transaction, the insider now directly owns 20,608 shares in the company, valued at $1,266,155.52. The disclosure for this sale can be found here. Insiders sold a total of 4,109 shares of company stock worth $246,746 over the last three months. 1.20% of the stock is owned by insiders.