InterDigital, Inc. (NASDAQ:IDCC) to Issue Quarterly Dividend of $0.30
InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Friday, June 16th, Wall Street Journal reports. Stockholders of record on Wednesday, July 12th will be paid a dividend of 0.30 per share by the Wireless communications provider on Wednesday, July 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, July 10th.
Shares of InterDigital (NASDAQ:IDCC) traded down 1.17% during mid-day trading on Thursday, hitting $71.80. 272,598 shares of the stock were exchanged. The firm has a 50-day moving average price of $78.47 and a 200 day moving average price of $85.09. The company has a market capitalization of $2.49 billion, a PE ratio of 7.78 and a beta of 1.00. InterDigital has a 12-month low of $58.98 and a 12-month high of $102.30.
InterDigital (NASDAQ:IDCC) last released its quarterly earnings data on Thursday, July 27th. The Wireless communications provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.41 by $0.05. The company had revenue of $135.78 million during the quarter, compared to the consensus estimate of $133.69 million. InterDigital had a return on equity of 44.58% and a net margin of 45.92%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, equities research analysts expect that InterDigital will post $3.45 earnings per share for the current year.
Several research firms have recently commented on IDCC. B. Riley reissued a “buy” rating and issued a $100.00 price objective on shares of InterDigital in a report on Tuesday, June 13th. Zacks Investment Research raised InterDigital from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine raised InterDigital from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 25th. Finally, Benchmark Co. assumed coverage on InterDigital in a report on Tuesday, April 25th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $92.50.
In other InterDigital news, EVP Lawrence F. Shay sold 8,000 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $85.88, for a total transaction of $687,040.00. Following the transaction, the executive vice president now owns 48,458 shares in the company, valued at approximately $4,161,573.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James J. Nolan sold 8,596 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $83.83, for a total value of $720,602.68. Following the transaction, the executive vice president now owns 57,149 shares in the company, valued at approximately $4,790,800.67. The disclosure for this sale can be found here. Insiders have sold a total of 17,896 shares of company stock valued at $1,514,730 in the last ninety days. Insiders own 1.90% of the company’s stock.
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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