InterDigital, Inc. (NASDAQ:IDCC) Short Interest Update

InterDigital, Inc. (NASDAQ:IDCC) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 3,210,000 shares, a decline of 12.1% from the October 31st total of 3,650,000 shares. Based on an average daily trading volume, of 378,100 shares, the days-to-cover ratio is presently 8.5 days. Approximately 13.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

IDCC has been the subject of several recent research reports. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. 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.

Insiders Place Their Bets

In other InterDigital news, Director John A. Kritzmacher sold 2,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $138.72, for a total transaction of $346,800.00. Following the sale, the director now owns 20,279 shares of the company’s stock, valued at approximately $2,813,102.88. This represents a 10.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $142.78, for a total value of $99,946.00. Following the completion of the transaction, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at approximately $7,850,615.52. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,340 shares of company stock valued at $472,253. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of InterDigital

A number of institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC bought a new stake in InterDigital during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in shares of InterDigital during the 3rd quarter valued at $26,000. 1620 Investment Advisors Inc. purchased a new stake in InterDigital during the 2nd quarter worth about $29,000. GAMMA Investing LLC boosted its stake in InterDigital by 50.8% in the 2nd quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock worth $43,000 after purchasing an additional 124 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in InterDigital by 38.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 109 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

InterDigital Stock Performance

InterDigital stock traded up $0.61 during trading on Monday, hitting $196.57. The stock had a trading volume of 285,340 shares, compared to its average volume of 450,495. The stock’s 50 day moving average is $162.85 and its two-hundred day moving average is $138.14. InterDigital has a 1 year low of $95.33 and a 1 year high of $199.79. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, October 9th. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio (DPR) is currently 19.23%.

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.