InterDigital, Inc. (NASDAQ:IDCC) Plans Quarterly Dividend of $0.45

InterDigital, Inc. (NASDAQ:IDCC) announced a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Shareholders of record on Wednesday, January 8th will be paid a dividend of 0.45 per share by the Wireless communications provider on Wednesday, January 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, January 8th.

InterDigital has increased its dividend payment by an average of 5.6% per year over the last three years. InterDigital has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect InterDigital to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 30.9%.

InterDigital Stock Performance

Shares of IDCC stock opened at $203.33 on Monday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. InterDigital has a 52 week low of $95.33 and a 52 week high of $203.90. The firm has a 50 day moving average of $186.47 and a 200-day moving average of $152.34. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44.

Insider Transactions at InterDigital

In related news, insider Joshua D. Schmidt sold 140 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $182.19, for a total transaction of $25,506.60. Following the completion of the sale, the insider now owns 24,138 shares of the company’s stock, valued at $4,397,702.22. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $189.12, for a total value of $1,114,105.92. Following the sale, the chief executive officer now directly owns 158,652 shares in the company, valued at $30,004,266.24. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,922 shares of company stock valued at $2,290,360 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IDCC. Roth Mkm upped their target price on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

InterDigital Company Profile

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.