InterDigital Inc. (NASDAQ:IDCC) declared a quarterly dividend on Thursday, September 22nd. Investors of record on Wednesday, October 12th will be given a dividend of 0.30 per share on Wednesday, October 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, October 7th. This is an increase from InterDigital’s previous quarterly dividend of $0.20.
InterDigital (NASDAQ:IDCC) opened at 79.20 on Friday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 22.40 and a beta of 1.11. InterDigital has a 12-month low of $41.01 and a 12-month high of $79.92. The company’s 50 day moving average price is $72.98 and its 200-day moving average price is $60.97.
InterDigital (NASDAQ:IDCC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.83. The company earned $75.90 million during the quarter, compared to the consensus estimate of $76.60 million. InterDigital had a return on equity of 20.08% and a net margin of 31.71%. InterDigital’s revenue was down 36.0% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. On average, equities analysts anticipate that InterDigital will post $4.34 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in IDCC. Summit Securities Group LLC purchased a new stake in InterDigital during the second quarter worth about $201,000. Capstone Investment Advisors LLC purchased a new stake in InterDigital during the second quarter worth about $217,000. Thrivent Financial for Lutherans increased its stake in InterDigital by 8.8% in the second quarter. Thrivent Financial for Lutherans now owns 5,553 shares of the company’s stock worth $310,000 after buying an additional 450 shares in the last quarter. Jefferies Group LLC purchased a new stake in InterDigital during the second quarter worth about $361,000. Finally, Profund Advisors LLC increased its stake in InterDigital by 3.8% in the second quarter. Profund Advisors LLC now owns 6,882 shares of the company’s stock worth $383,000 after buying an additional 255 shares in the last quarter. 69.14% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on IDCC shares. B. Riley reaffirmed a “buy” rating and set a $69.00 price target on shares of InterDigital in a research report on Monday, June 27th. TheStreet raised InterDigital from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC increased their price target on InterDigital from $65.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 9th.
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.
Receive News & Ratings for InterDigital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InterDigital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.