InterDigital (NASDAQ:IDCC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of InterDigital (NASDAQ:IDCC) from a hold rating to a buy rating in a research note issued to investors on Monday.

Separately, Jefferies Financial Group reaffirmed a hold rating and set a $100.00 price target (down previously from $106.00) on shares of InterDigital in a report on Monday, May 13th.

InterDigital Stock Up 2.2 %

NASDAQ IDCC opened at $139.46 on Monday. InterDigital has a 52 week low of $74.65 and a 52 week high of $140.25. The company has a quick ratio of 1.34, a current ratio of 1.51 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $3.52 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. The stock’s 50-day moving average price is $121.14 and its 200-day moving average price is $110.31.

InterDigital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.60 annualized dividend and a dividend yield of 1.15%. InterDigital’s payout ratio is 23.53%.

Insider Buying and Selling

In related news, Director John D. Jr. Markley sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $115.28, for a total value of $86,460.00. Following the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at approximately $1,406,646.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 bought and sold shares of IDCC. Vanguard Group Inc. increased its holdings in shares of InterDigital by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,234,740 shares of the Wireless communications provider’s stock worth $344,370,000 after purchasing an additional 17,238 shares during the last quarter. Capital Management Corp VA grew its stake in shares of InterDigital by 12.1% in the 4th quarter. Capital Management Corp VA now owns 237,654 shares of the Wireless communications provider’s stock worth $25,795,000 after buying an additional 25,601 shares in the last quarter. Norges Bank purchased a new stake in shares of InterDigital during the 4th quarter valued at about $18,987,000. Principal Financial Group Inc. raised its position in shares of InterDigital by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 151,173 shares of the Wireless communications provider’s stock valued at $16,094,000 after buying an additional 1,758 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of InterDigital in the 4th quarter valued at about $13,309,000. 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.