InterDigital, Inc. (IDCC) Announces Quarterly Dividend of $0.35
InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Friday, December 8th, Wall Street Journal reports. Investors of record on Wednesday, January 10th will be paid a dividend of 0.35 per share by the Wireless communications provider on Wednesday, January 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Tuesday, January 9th.
Shares of InterDigital (NASDAQ IDCC) traded up $0.90 during trading hours on Friday, hitting $76.85. 336,600 shares of the company were exchanged, compared to its average volume of 331,253. The firm has a market cap of $2,636.33, a P/E ratio of 10.49 and a beta of 0.97. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.34. InterDigital has a 1-year low of $67.55 and a 1-year high of $102.30.
InterDigital (NASDAQ:IDCC) last announced its quarterly earnings results on Thursday, October 26th. The Wireless communications provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.34. The business had revenue of $97.30 million for the quarter, compared to the consensus estimate of $94.13 million. InterDigital had a net margin of 42.94% and a return on equity of 32.77%. InterDigital’s revenue for the quarter was down 53.3% on a year-over-year basis. During the same period last year, the company posted $2.99 EPS. equities analysts anticipate that InterDigital will post 4.04 earnings per share for the current year.
Several analysts have commented on the stock. ValuEngine downgraded shares of InterDigital from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research raised shares of InterDigital from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research note on Friday, August 18th. Finally, B. Riley reissued a “buy” rating and issued a $100.00 target price on shares of InterDigital in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $90.00.
In other news, EVP Scott A. Mcquilkin sold 500 shares of InterDigital stock in a transaction on Friday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $37,500.00. Following the completion of the sale, the executive vice president now owns 79,319 shares of the company’s stock, valued at $5,948,925. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James J. Nolan sold 5,020 shares of InterDigital stock in a transaction on Monday, November 27th. The stock was sold at an average price of $75.00, for a total value of $376,500.00. Following the sale, the executive vice president now directly owns 49,063 shares of the company’s stock, valued at approximately $3,679,725. The disclosure for this sale can be found here. Insiders have sold a total of 8,081 shares of company stock valued at $599,186 in the last ninety days. Insiders own 1.90% of the company’s stock.
InterDigital announced that its Board of Directors has approved a stock repurchase program on Thursday, September 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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InterDigital Company Profile
InterDigital, Inc designs and develops technologies for wireless communications. The Company is focused on three technology areas: cellular wireless technology, Internet of things (IoT) technology, and, through its Hillcrest Laboratories, Inc (Hillcrest Labs) subsidiary, sensor and sensor fusion technology.
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