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

InterDigital, Inc. (NASDAQ:IDCC) was the target of a large drop in short interest during 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. Approximately 17.4% of the company’s shares are short sold. Based on an average trading volume of 512,800 shares, the short-interest ratio is currently 8.5 days.

InterDigital Trading Down 0.1 %

NASDAQ:IDCC opened at $96.42 on Tuesday. InterDigital has a one year low of $66.82 and a one year high of $119.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.33 and a quick ratio of 1.33. The company’s 50-day simple moving average is $104.26 and its 200 day simple moving average is $99.05. The firm has a market capitalization of $2.46 billion, a P/E ratio of 12.86, a PEG ratio of 0.78 and a beta of 1.34.

InterDigital (NASDAQ:IDCC) last issued its earnings results on Thursday, February 15th. The Wireless communications provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The business 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%. As a group, analysts forecast that InterDigital will post 7.13 EPS for the current fiscal year.

InterDigital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 10th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.60 annualized dividend and a yield of 1.66%. InterDigital’s dividend payout ratio (DPR) is presently 21.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and set a $100.00 target price (down previously from $140.00) on shares of InterDigital in a research note on Monday, April 1st. StockNews.com lowered shares of InterDigital from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th.

Insiders Place Their Bets

In other InterDigital news, insider Eeva K. Hakoranta sold 699 shares of the firm’s stock in a transaction on 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 owns 29,984 shares of the company’s stock, valued at approximately $2,871,567.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Rajesh Pankaj sold 650 shares of InterDigital 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 sale, the chief technology officer now owns 64,939 shares of the company’s stock, valued at approximately $6,190,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eeva K. Hakoranta sold 699 shares of InterDigital 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 sale, the insider now directly owns 29,984 shares in the company, valued at approximately $2,871,567.68. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its holdings in shares of InterDigital by 24.5% during the first quarter. Advisor Group Holdings Inc. now owns 5,751 shares of the Wireless communications provider’s stock valued at $358,000 after purchasing an additional 1,133 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of InterDigital by 44.5% during the first quarter. JPMorgan Chase & Co. now owns 68,729 shares of the Wireless communications provider’s stock valued at $4,385,000 after purchasing an additional 21,169 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of InterDigital by 55.6% during the first quarter. MetLife Investment Management LLC now owns 16,043 shares of the Wireless communications provider’s stock valued at $1,024,000 after purchasing an additional 5,731 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of InterDigital by 2.7% during the first quarter. Rhumbline Advisers now owns 91,875 shares of the Wireless communications provider’s stock valued at $5,862,000 after purchasing an additional 2,458 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of InterDigital by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,447 shares of the Wireless communications provider’s stock valued at $1,687,000 after purchasing an additional 3,260 shares during the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

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.