Interdigital (IDCC) Declares $0.35 Dividend
Interdigital said on June 8, 2023 that its board of directors declared a regular quarterly dividend of $0.35 per share ($1.40 annualized). Previously, the company paid $0.35 per share.
Shares must be purchased before the ex-div date of July 11, 2023 to qualify for the dividend. Shareholders of record as of July 12, 2023 will receive the payment on July 26, 2023.
At the current share price of $88.31 / share, the stock's dividend yield is 1.59%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.23%, the lowest has been 1.64%, and the highest has been 4.04%. The standard deviation of yields is 0.38 (n=236).
The current dividend yield is 1.72 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.21. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 563 funds or institutions reporting positions in Interdigital. This is an increase of 22 owner(s) or 4.07% in the last quarter. Average portfolio weight of all funds dedicated to IDCC is 0.20%, an increase of 20.74%. Total shares owned by institutions decreased in the last three months by 2.37% to 27,814K shares. 
The put/call ratio of IDCC is 0.88, indicating a bullish outlook.
Analyst Price Forecast Suggests 21.57% Upside
As of June 1, 2023, the average one-year price target for Interdigital is 107.36. The forecasts range from a low of 90.90 to a high of $119.70. The average price target represents an increase of 21.57% from its latest reported closing price of 88.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Interdigital is 434MM, a decrease of 22.25%. The projected annual non-GAAP EPS is 2.78.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,959K shares representing 7.33% ownership of the company. In it's prior filing, the firm reported owning 2,198K shares, representing a decrease of 12.22%. The firm increased its portfolio allocation in IDCC by 27.57% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 926K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 890K shares, representing an increase of 3.87%. The firm increased its portfolio allocation in IDCC by 41.52% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 776K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 764K shares, representing an increase of 1.56%. The firm increased its portfolio allocation in IDCC by 43.65% over the last quarter.
Disciplined Growth Investors holds 726K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 791K shares, representing a decrease of 9.03%. The firm increased its portfolio allocation in IDCC by 35.38% over the last quarter.
Boston Partners holds 690K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 711K shares, representing a decrease of 3.18%. The firm increased its portfolio allocation in IDCC by 33.86% over the last quarter.
Interdigital Background Information
(This description is provided by the company.)
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. The Company solves many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading technology companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400® index.
Key filings for this company:
This story originally appeared on Fintel.