InterDigital (NASDAQ:IDCC) Reaches New 52-Week High – What’s Next?

Shares of InterDigital, Inc. (NASDAQ:IDCC) reached a new 52-week high during trading on Thursday . The stock traded as high as $231.97 and last traded at $209.87, with a volume of 74214 shares traded. The stock had previously closed at $204.17.

InterDigital Price Performance

The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $195.19 and its 200 day moving average price is $173.36. The stock has a market cap of $5.53 billion, a PE ratio of 17.88, a P/E/G ratio of 1.57 and a beta of 1.45.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.60 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, April 9th. InterDigital’s dividend payout ratio is currently 19.93%.

Insider Activity at InterDigital

In other InterDigital news, CFO Richard Brezski sold 9,602 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total transaction of $2,066,446.42. Following the sale, the chief financial officer now directly owns 102,555 shares in the company, valued at $22,070,861.55. This represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the completion of the sale, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,134 shares of company stock valued at $4,678,770. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of InterDigital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. purchased a new position in shares of InterDigital during the fourth quarter valued at $62,583,000. Price T Rowe Associates Inc. MD lifted its position in shares of InterDigital by 1,451.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider’s stock worth $57,986,000 after purchasing an additional 280,030 shares during the period. Reinhart Partners LLC. boosted its stake in shares of InterDigital by 83.8% during the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock valued at $69,785,000 after purchasing an additional 164,223 shares in the last quarter. Millennium Management LLC increased its holdings in InterDigital by 3,962.5% during the fourth quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider’s stock valued at $24,947,000 after buying an additional 125,610 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in InterDigital in the fourth quarter worth approximately $19,572,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

About InterDigital

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.