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.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. StockNews.com lowered InterDigital from a "buy" rating to a "hold" rating in a research report on Friday, August 5th. Bank of America began coverage on InterDigital in a research report on Wednesday, August 3rd. They set an "underperform" rating and a $60.00 price objective for the company.
InterDigital Stock Down 0.9 %
IDCC opened at $55.49 on Tuesday. InterDigital has a fifty-two week low of $54.43 and a fifty-two week high of $74.27. The business has a 50-day moving average of $61.19 and a 200-day moving average of $62.36. The company has a debt-to-equity ratio of 0.88, a current ratio of 4.45 and a quick ratio of 4.45. The company has a market capitalization of $1.65 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98.
InterDigital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 13th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Tuesday, July 12th. InterDigital's dividend payout ratio (DPR) is presently 50.00%.
Insider Transactions at InterDigital
In other news, Director Pierre-Yves Lesaicherre sold 1,700 shares of the firm's stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $55.50, for a total transaction of $94,350.00. Following the completion of the sale, the director now directly owns 5,378 shares of the company's stock, valued at approximately $298,479. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Pierre-Yves Lesaicherre sold 1,700 shares of the firm's stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $55.50, for a total value of $94,350.00. Following the transaction, the director now directly owns 5,378 shares of the company's stock, valued at approximately $298,479. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eeva K. Hakoranta sold 1,595 shares of the firm's stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $61.44, for a total value of $97,996.80. Following the completion of 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 4,109 shares of company stock valued at $246,746 in the last three months. Corporate insiders own 1.20% of the company's stock.