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

InterDigital, Inc. (NASDAQ:IDCC - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 4,340,000 shares, a decline 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 days-to-cover ratio is presently 8.5 days. Currently, 17.4% of the shares of the company are short sold.

Insider Buying and Selling at InterDigital

In other InterDigital news, CTO Rajesh Pankaj sold 650 shares of the business's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $95.33, for a total transaction of $61,964.50. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $95.77, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 650 shares of the company'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 transaction, the chief technology officer now directly owns 64,939 shares of the company's stock, valued at approximately $6,190,634.87. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On InterDigital

Several large investors have recently added to or reduced their stakes in IDCC. Riverwater Partners LLC increased its position in InterDigital by 0.7% in the fourth quarter. Riverwater Partners LLC now owns 13,555 shares of the Wireless communications provider's stock worth $1,471,000 after buying an additional 96 shares during the period. Quadrant Capital Group LLC increased its position in InterDigital by 11.6% in the fourth quarter. Quadrant Capital Group LLC now owns 990 shares of the Wireless communications provider's stock worth $107,000 after buying an additional 103 shares during the period. Parkside Financial Bank & Trust increased its position in InterDigital by 12.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,047 shares of the Wireless communications provider's stock worth $84,000 after buying an additional 114 shares during the period. AlphaMark Advisors LLC increased its position in InterDigital by 4.3% in the fourth quarter. AlphaMark Advisors LLC now owns 3,038 shares of the Wireless communications provider's stock worth $330,000 after buying an additional 125 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in InterDigital by 12.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,280 shares of the Wireless communications provider's stock worth $104,000 after buying an additional 143 shares during the period. 99.83% of the stock is currently owned by institutional investors.

InterDigital Trading Up 0.4 %

IDCC traded up $0.38 on Tuesday, reaching $96.80. 332,412 shares of the company's stock were exchanged, compared to its average volume of 497,606. The company's 50 day moving average is $104.14 and its 200-day moving average is $99.17. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.78 and a beta of 1.34. InterDigital has a twelve month low of $66.82 and a twelve month high of $119.86. 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 (NASDAQ:IDCC - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The firm had revenue of $105.52 million during the quarter, compared to analysts' expectations of $104.31 million. InterDigital had a return on equity of 37.77% and a net margin of 38.95%. Equities analysts predict that InterDigital will post 7.13 earnings per share for the current year.

InterDigital Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IDCC. Bank of America reaffirmed an "underperform" rating and set a $100.00 price objective (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com downgraded shares of InterDigital from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th.

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.