InterDigital (NASDAQ:IDCC) Sets New 52-Week High – Here’s What Happened

InterDigital, Inc. (NASDAQ:IDCC)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $378.86 and last traded at $371.00, with a volume of 211702 shares traded. The stock had previously closed at $366.85.

Analyst Upgrades and Downgrades

IDCC has been the topic of several research reports. William Blair restated an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Jefferies Financial Group reiterated a “hold” rating and issued a $340.00 price target on shares of InterDigital in a report on Monday, September 29th. Weiss Ratings upgraded InterDigital from a “buy (b+)” rating to a “buy (a)” rating in a research note on Tuesday, October 14th. Finally, Roth Capital lifted their price objective on shares of InterDigital from $270.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $345.00.

InterDigital Stock Up 1.1%

The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44. The stock has a 50-day moving average of $314.61 and a 200-day moving average of $253.03. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.02.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $3.75. InterDigital had a return on equity of 53.44% and a net margin of 51.92%.The company had revenue of $300.60 million for the quarter, compared to analysts’ expectations of $167.93 million. During the same period last year, the business posted $4.57 earnings per share. The firm’s quarterly revenue was up 34.5% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. As a group, sell-side analysts forecast that InterDigital, Inc. will post 9.21 EPS for the current fiscal year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be given a $0.70 dividend. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, October 8th. This represents a $2.80 annualized dividend and a yield of 0.8%. InterDigital’s payout ratio is currently 19.96%.

Insider Activity at InterDigital

In related news, insider Joshua D. Schmidt sold 466 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $273.12, for a total value of $127,273.92. Following the sale, the insider directly owned 28,370 shares in the company, valued at $7,748,414.40. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Rajesh Pankaj sold 1,000 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the chief technology officer owned 65,122 shares of the company’s stock, valued at $22,016,445.76. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,466 shares of company stock worth $1,016,164 in the last 90 days. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On InterDigital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in InterDigital by 7.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,489 shares of the Wireless communications provider’s stock valued at $928,000 after buying an additional 316 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of InterDigital by 37.9% in the first quarter. Inspire Investing LLC now owns 15,227 shares of the Wireless communications provider’s stock valued at $3,148,000 after acquiring an additional 4,188 shares in the last quarter. Cerity Partners LLC increased its stake in shares of InterDigital by 91.2% during the first quarter. Cerity Partners LLC now owns 2,576 shares of the Wireless communications provider’s stock valued at $533,000 after acquiring an additional 1,229 shares during the period. Harbor Capital Advisors Inc. raised its holdings in InterDigital by 3.6% during the second quarter. Harbor Capital Advisors Inc. now owns 43,660 shares of the Wireless communications provider’s stock worth $9,790,000 after purchasing an additional 1,502 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in InterDigital by 8.5% in the second quarter. State of Alaska Department of Revenue now owns 15,447 shares of the Wireless communications provider’s stock worth $3,462,000 after purchasing an additional 1,215 shares during the period. 99.83% of the stock is currently owned by institutional investors.

InterDigital Company Profile

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.