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

InterDigital, Inc. (NASDAQ:IDCC) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 4,340,000 shares, a decrease of 8.2% from the March 15th total of 4,730,000 shares. Currently, 17.4% of the company’s stock are sold short. Based on an average trading volume of 512,800 shares, the short-interest ratio is currently 8.5 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IDCC. Bank of America restated an “underperform” rating and issued a $100.00 price target (down from $140.00) on shares of InterDigital in a report on Monday, April 1st. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

InterDigital Stock Down 0.1 %

IDCC stock opened at $96.42 on Tuesday. The firm has a 50 day moving average of $104.26 and a 200 day moving average of $99.05. The stock has a market capitalization of $2.46 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.78 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.05. InterDigital has a 52 week low of $66.82 and a 52 week high of $119.86.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The company had revenue of $105.52 million during the quarter, compared to analysts’ expectations of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. Sell-side analysts forecast that InterDigital will post 7.13 earnings per share for the current year.

InterDigital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, April 9th. InterDigital’s dividend payout ratio is presently 21.33%.

Insiders Place Their Bets

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the transaction, the chief technology officer now directly owns 64,939 shares in the company, valued at approximately $6,190,634.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total value of $66,943.23. Following the sale, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajesh Pankaj sold 650 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the completion of the sale, the chief technology officer now owns 64,939 shares in the company, valued at $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On InterDigital

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in InterDigital by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,704 shares of the Wireless communications provider’s stock worth $217,667,000 after buying an additional 49,177 shares during the last quarter. Pacer Advisors Inc. raised its position in InterDigital by 220.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,151,777 shares of the Wireless communications provider’s stock worth $125,014,000 after buying an additional 792,868 shares during the last quarter. Dimensional Fund Advisors LP raised its position in InterDigital by 6.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,031,916 shares of the Wireless communications provider’s stock worth $75,226,000 after buying an additional 65,217 shares during the last quarter. Renaissance Technologies LLC raised its position in InterDigital by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 706,467 shares of the Wireless communications provider’s stock worth $45,073,000 after buying an additional 7,993 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in InterDigital by 7.4% during the 3rd quarter. Boston Trust Walden Corp now owns 666,935 shares of the Wireless communications provider’s stock worth $53,515,000 after buying an additional 46,181 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

About InterDigital

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.