InterDigital (NASDAQ:IDCC) Sees Large Volume Increase

InterDigital, Inc. (NASDAQ:IDCC) shares saw unusually-high trading volume on Thursday . Approximately 16,260 shares traded hands during mid-day trading, a decline of 93% from the previous session’s volume of 248,839 shares.The stock last traded at $71.50 and had previously closed at $71.58.

IDCC has been the subject of several research reports. Colliers Securities reiterated a “buy” rating on shares of InterDigital in a research report on Thursday, January 28th. B. Riley boosted their price objective on InterDigital from $100.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, February 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $92.80.

The stock has a 50-day moving average of $64.60 and a 200-day moving average of $62.33. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, February 18th. The Wireless communications provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The business had revenue of $90.79 million for the quarter, compared to the consensus estimate of $88.03 million. InterDigital had a net margin of 16.17% and a return on equity of 5.25%. As a group, research analysts expect that InterDigital, Inc. will post 1.04 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 28th. Stockholders of record on Wednesday, April 14th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Tuesday, April 13th. InterDigital’s dividend payout ratio is presently 212.12%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Liberty One Investment Management LLC raised its stake in shares of InterDigital by 4.0% in the 1st quarter. Liberty One Investment Management LLC now owns 14,267 shares of the Wireless communications provider’s stock worth $905,000 after buying an additional 544 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of InterDigital in the 4th quarter worth $1,434,000. Norges Bank bought a new stake in shares of InterDigital in the 4th quarter worth $25,686,000. UBS Asset Management Americas Inc. raised its position in shares of InterDigital by 0.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 30,248 shares of the Wireless communications provider’s stock worth $1,835,000 after purchasing an additional 159 shares during the period. Finally, Main Street Financial Solutions LLC acquired a new stake in shares of InterDigital during the fourth quarter worth $273,000. 77.68% of the stock is currently owned by institutional investors.

InterDigital Company Profile (NASDAQ:IDCC)

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. 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.

Further Reading: FinTech

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