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

InterDigital, Inc. (NASDAQ:IDCC) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 4,400,000 shares, a decrease of 12.0% from the August 15th total of 5,000,000 shares. Currently, 17.9% of the shares of the stock are short sold. Based on an average trading volume of 442,700 shares, the short-interest ratio is currently 9.9 days.

InterDigital Trading Down 0.4 %

InterDigital stock traded down $0.61 during mid-day trading on Wednesday, hitting $135.08. The company’s stock had a trading volume of 225,345 shares, compared to its average volume of 467,188. The company has a 50 day moving average of $131.28 and a 200-day moving average of $115.94. The stock has a market cap of $3.41 billion, a PE ratio of 20.04, a P/E/G ratio of 0.84 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.51. InterDigital has a one year low of $74.65 and a one year high of $140.60.

InterDigital (NASDAQ:IDCC) last announced its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $4.20 EPS for the quarter, beating 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 company had revenue of $223.49 million for the quarter, compared to the consensus estimate of $95.63 million. On average, research analysts anticipate that InterDigital will post 9.05 EPS for the current year.

InterDigital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.45 per share. This is an increase from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.33%. InterDigital’s dividend payout ratio is presently 26.47%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com upgraded InterDigital from a “hold” rating to a “buy” rating in a report on Thursday, August 22nd. Roth Mkm increased their price target on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

Insider Transactions at InterDigital

In related news, Director Derek K. Aberle sold 2,005 shares of the 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 sale, the director now owns 7,639 shares in the company, valued at approximately $1,026,681.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

A number of hedge funds and other institutional investors have recently made changes to their positions in IDCC. 1620 Investment Advisors Inc. bought a new stake in InterDigital during the second quarter valued at about $29,000. Riverview Trust Co purchased a new stake in InterDigital in the first quarter valued at about $31,000. GAMMA Investing LLC raised its stake in InterDigital by 50.8% in the second quarter. GAMMA Investing LLC now owns 368 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 124 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in InterDigital by 38.0% in the second 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 during the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in InterDigital in the first quarter valued at about $64,000. Institutional investors own 99.83% of the company’s stock.

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.