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

InterDigital, Inc. (NASDAQ:IDCC) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 3,900,000 shares, a drop of 9.3% from the September 15th total of 4,300,000 shares. Based on an average trading volume of 408,700 shares, the days-to-cover ratio is presently 9.5 days. Approximately 15.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on IDCC shares. StockNews.com raised InterDigital from a “hold” rating to a “buy” rating in a research note on Tuesday. Roth Mkm raised their target price on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th.

Insider Activity

In related news, Director Derek K. Aberle sold 2,005 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total transaction of $269,472.00. Following the completion of the sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction on 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 sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Derek K. Aberle sold 2,005 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $134.40, for a total value of $269,472.00. Following the completion of the transaction, the director now directly owns 7,639 shares in the company, valued at approximately $1,026,681.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,205 shares of company stock valued at $716,218 in the last 90 days. 2.30% of the stock is currently owned by insiders.

Institutional Trading of InterDigital

A number of institutional investors and hedge funds have recently bought and sold shares of IDCC. Ritholtz Wealth Management lifted its position in shares of InterDigital by 16.1% in the third quarter. Ritholtz Wealth Management now owns 24,322 shares of the Wireless communications provider’s stock worth $3,445,000 after buying an additional 3,381 shares in the last quarter. Simplicity Wealth LLC raised its holdings in shares of InterDigital by 1.5% during the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock worth $665,000 after acquiring an additional 69 shares in the last quarter. Reinhart Partners LLC. bought a new position in shares of InterDigital during the 3rd quarter valued at approximately $27,762,000. CWM LLC grew its holdings in shares of InterDigital by 34.0% in the third quarter. CWM LLC now owns 851 shares of the Wireless communications provider’s stock valued at $121,000 after purchasing an additional 216 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in InterDigital by 81.3% in the third quarter. GAMMA Investing LLC now owns 667 shares of the Wireless communications provider’s stock worth $94,000 after purchasing an additional 299 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors.

InterDigital Price Performance

IDCC stock traded up $3.07 during trading on Wednesday, reaching $156.82. The company’s stock had a trading volume of 271,366 shares, compared to its average volume of 461,335. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $138.79 and its 200-day moving average is $121.38. The company has a market capitalization of $3.96 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39. InterDigital has a 1 year low of $74.65 and a 1 year high of $157.15.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $3.77. InterDigital had a return on equity of 44.57% and a net margin of 37.99%. The firm had revenue of $223.49 million during the quarter, compared to analysts’ expectations of $95.63 million. On average, research analysts expect that InterDigital will post 9.04 earnings per share for the current fiscal year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.15%. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, October 9th. InterDigital’s dividend payout ratio (DPR) is presently 26.47%.

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.