InterDigital (NASDAQ:IDCC) Shares Gap Up – Time to Buy?

InterDigital, Inc. (NASDAQ:IDCC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $182.50, but opened at $200.00. InterDigital shares last traded at $201.46, with a volume of 75,687 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com cut InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Stock Down 3.5 %

The stock has a market cap of $5.18 billion, a PE ratio of 16.98, a P/E/G ratio of 2.41 and a beta of 1.44. The business has a 50 day moving average of $188.74 and a 200-day moving average of $162.86. The company has a current ratio of 1.70, a quick ratio of 1.62 and a debt-to-equity ratio of 0.08.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, April 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.45. This represents a $2.40 dividend on an annualized basis and a yield of 1.17%. InterDigital’s payout ratio is currently 14.95%.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Joshua D. Schmidt sold 140 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $182.19, for a total transaction of $25,506.60. Following the transaction, the insider now owns 24,138 shares in the company, valued at approximately $4,397,702.22. The trade was a 0.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $195.34, for a total value of $1,150,747.94. Following the transaction, the chief executive officer now directly owns 164,543 shares of the company’s stock, valued at approximately $32,141,829.62. This trade represents a 3.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,322 shares of company stock valued at $2,562,751 in the last ninety days. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN boosted its position in shares of InterDigital by 3.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,132,818 shares of the Wireless communications provider’s stock worth $160,441,000 after purchasing an additional 39,891 shares in the last quarter. Geode Capital Management LLC boosted its holdings in InterDigital by 0.7% during the third quarter. Geode Capital Management LLC now owns 592,754 shares of the Wireless communications provider’s stock worth $83,968,000 after buying an additional 3,975 shares in the last quarter. Reinhart Partners LLC. grew its position in InterDigital by 83.8% during the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider’s stock worth $69,785,000 after buying an additional 164,223 shares during the period. Congress Asset Management Co. purchased a new position in InterDigital in the fourth quarter valued at about $62,583,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of InterDigital by 28.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 214,783 shares of the Wireless communications provider’s stock valued at $30,420,000 after acquiring an additional 48,137 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

About InterDigital

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.