InterDigital (NASDAQ:IDCC) Sets New 12-Month Low at $44.72

Shares of InterDigital, Inc. (NASDAQ:IDCCGet Rating) reached a new 52-week low on Wednesday . The company traded as low as $44.72 and last traded at $44.87, with a volume of 2439 shares changing hands. The stock had previously closed at $45.18.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IDCC shares. StockNews.com downgraded InterDigital from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Bank of America started coverage on InterDigital in a report on Wednesday, August 3rd. They set an “underperform” rating and a $60.00 price target for the company. Finally, TheStreet cut InterDigital from a “b-” rating to a “c+” rating in a report on Friday, September 16th.

InterDigital Trading Down 2.9 %

The stock has a market cap of $1.27 billion, a PE ratio of 15.34, a PEG ratio of 0.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.88, a quick ratio of 4.45 and a current ratio of 4.45. The stock has a fifty day moving average price of $53.88 and a 200 day moving average price of $59.14.

InterDigital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 12th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Tuesday, October 11th. InterDigital’s dividend payout ratio is currently 50.00%.

Insider Buying and Selling

In related news, insider Eeva K. Hakoranta sold 1,595 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $61.44, for a total transaction of $97,996.80. Following the completion of the sale, the insider now directly owns 20,608 shares of the company’s stock, valued at approximately $1,266,155.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other InterDigital news, Director Pierre-Yves Lesaicherre sold 1,700 shares of InterDigital stock in a transaction on 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eeva K. Hakoranta sold 1,595 shares of InterDigital stock in a transaction 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 sale, the insider now directly owns 20,608 shares of the company’s stock, valued at $1,266,155.52. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On InterDigital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in InterDigital by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,704 shares of the Wireless communications provider’s stock valued at $217,667,000 after purchasing an additional 49,177 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in InterDigital by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 943,710 shares of the Wireless communications provider’s stock worth $60,208,000 after buying an additional 21,170 shares during the last quarter. Renaissance Technologies LLC grew its stake in InterDigital by 18.0% during the 2nd quarter. Renaissance Technologies LLC now owns 833,767 shares of the Wireless communications provider’s stock worth $50,693,000 after buying an additional 127,300 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in InterDigital by 1.5% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 789,658 shares of the Wireless communications provider’s stock worth $50,380,000 after buying an additional 11,400 shares during the last quarter. Finally, Boston Partners grew its stake in InterDigital by 1.8% during the 1st quarter. Boston Partners now owns 716,634 shares of the Wireless communications provider’s stock worth $45,527,000 after buying an additional 12,419 shares during the last quarter. 86.92% of the stock is owned by institutional investors.

About InterDigital

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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.

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