InterDigital (NASDAQ:IDCC) Lowered to Hold Rating by StockNews.com

by · The Markets Daily

StockNews.com lowered shares of InterDigital (NASDAQ:IDCC – Free Report) from a buy rating to a hold rating in a report published on Monday.

Separately, Roth Mkm lifted their price objective on InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

View Our Latest Stock Analysis on InterDigital

InterDigital Price Performance

InterDigital stock opened at $165.93 on Monday. The business’s fifty day moving average is $142.84 and its two-hundred day moving average is $126.48. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.62. InterDigital has a 52 week low of $84.41 and a 52 week high of $169.46. The firm has a market cap of $4.17 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.05 and a beta of 1.38.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.08%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, October 9th. InterDigital’s dividend payout ratio is presently 19.23%.

Insider Buying and Selling at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares of the company’s stock, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the completion of the sale, the chief technology officer now owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,205 shares of company stock valued at $716,218 in the last 90 days. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of InterDigital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Transcendent Capital Group LLC acquired a new stake in InterDigital in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new stake in shares of InterDigital in the third quarter valued at approximately $26,000. 1620 Investment Advisors Inc. purchased a new stake in InterDigital during the 2nd quarter worth about $29,000. GAMMA Investing LLC lifted its holdings in shares of InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after buying an additional 124 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

InterDigital Company Profile

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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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