InterDigital, Inc. (NASDAQ:IDCC) Short Interest Down 8.2% in March

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on IDCC. Bank of America reiterated an “underperform” rating and issued a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com lowered InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th.

Insider Buying and Selling at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $95.77, for a total value of $66,943.23. Following the completion of the sale, the insider now directly owns 29,984 shares in the company, valued at $2,871,567.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $66,943.23. Following the completion of the transaction, the insider now owns 29,984 shares in the company, valued at approximately $2,871,567.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was 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 corporate insiders.

Institutional Trading of InterDigital

Several hedge funds and other institutional investors have recently bought and sold shares of IDCC. Riverview Trust Co acquired a new stake in shares of InterDigital during the 1st quarter valued at about $31,000. Point72 Asset Management L.P. bought a new stake in shares of InterDigital during the second quarter worth $39,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of InterDigital in the third quarter worth about $68,000. Parkside Financial Bank & Trust increased its stake in shares of InterDigital by 12.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider’s stock valued at $84,000 after buying an additional 114 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in InterDigital by 12.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider’s stock worth $104,000 after purchasing an additional 143 shares during the last quarter. 99.83% of the stock is currently owned by institutional investors and hedge funds.

InterDigital Stock Up 0.4 %

Shares of NASDAQ IDCC traded up $0.36 during trading hours on Wednesday, hitting $97.16. The stock had a trading volume of 231,591 shares, compared to its average volume of 493,796. The company has a market capitalization of $2.48 billion, a P/E ratio of 12.91, a P/E/G ratio of 0.78 and a beta of 1.34. The firm’s 50-day moving average price is $104.14 and its two-hundred day moving average price is $99.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.33. InterDigital has a 52 week low of $66.82 and a 52 week high of $119.86.

InterDigital (NASDAQ:IDCC) last posted its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $105.52 million for the quarter, compared to analyst estimates of $104.31 million. InterDigital had a net margin of 38.95% and a return on equity of 37.77%. Analysts anticipate that InterDigital will post 7.13 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.65%. InterDigital’s dividend payout ratio (DPR) is presently 21.33%.

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.