InterDigital Inc. (NASDAQ:IDCC) announced a quarterly dividend on Thursday, September 22nd. Shareholders of record on Wednesday, October 12th will be paid a dividend of 0.30 per share on Wednesday, October 26th. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, October 7th. This is a positive change from InterDigital’s previous quarterly dividend of $0.20.
Shares of InterDigital (NASDAQ:IDCC) opened at 78.33 on Thursday. InterDigital has a 12 month low of $41.01 and a 12 month high of $79.97. The firm’s 50-day moving average is $73.84 and its 200 day moving average is $61.57. The stock has a market cap of $2.68 billion, a PE ratio of 22.16 and a beta of 0.73.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.83. InterDigital had a net margin of 31.71% and a return on equity of 20.08%. The business had revenue of $75.90 million for the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was down 36.0% on a year-over-year basis. On average, equities analysts predict that InterDigital will post $4.34 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in InterDigital during the second quarter valued at approximately $201,000. Capstone Investment Advisors LLC bought a new position in InterDigital during the second quarter valued at approximately $217,000. Thrivent Financial for Lutherans increased its position in InterDigital by 8.8% in the second quarter. Thrivent Financial for Lutherans now owns 5,553 shares of the company’s stock valued at $310,000 after buying an additional 450 shares during the period. Jefferies Group LLC bought a new position in InterDigital during the second quarter valued at approximately $361,000. Finally, Profund Advisors LLC increased its position in InterDigital by 3.8% in the second quarter. Profund Advisors LLC now owns 6,882 shares of the company’s stock valued at $383,000 after buying an additional 255 shares during the period. 69.14% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $80.00 price target (up previously from $75.00) on shares of InterDigital in a report on Friday, September 23rd. B. Riley reaffirmed a “neutral” rating and set a $80.00 price target on shares of InterDigital in a report on Saturday. Dougherty & Co downgraded shares of InterDigital from a “buy” rating to a “neutral” rating in a report on Wednesday. Zacks Investment Research raised shares of InterDigital from a “sell” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a report on Saturday, August 6th. Finally, TheStreet raised shares of InterDigital from a “hold” rating to a “buy” rating in a report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. InterDigital presently has an average rating of “Buy” and an average price target of $78.33.
InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation (2G), third generation (3G), fourth generation (4G) and IEEE 802 related products and networks.
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