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

InterDigital, Inc. (NASDAQ:IDCC) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,920,000 shares, an increase of 5.8% from the June 30th total of 4,650,000 shares. Currently, 19.9% of the shares of the company are short sold. Based on an average daily trading volume, of 448,300 shares, the days-to-cover ratio is currently 11.0 days.

Insiders Place Their Bets

In other news, CTO Rajesh Pankaj sold 650 shares of InterDigital stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now owns 64,517 shares of the company’s stock, valued at $6,701,380.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other InterDigital news, Director John D. Jr. Markley sold 750 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $115.28, for a total value of $86,460.00. Following the completion of the transaction, the director now directly owns 12,202 shares of the company’s stock, valued at $1,406,646.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Rajesh Pankaj sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $103.87, for a total value of $67,515.50. Following the sale, the chief technology officer now directly owns 64,517 shares in the company, valued at approximately $6,701,380.79. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On InterDigital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in InterDigital by 16.1% in the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock worth $8,539,000 after buying an additional 10,926 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of InterDigital in the fourth quarter worth approximately $13,309,000. Trexquant Investment LP purchased a new stake in InterDigital in the fourth quarter valued at approximately $1,779,000. Norges Bank acquired a new position in InterDigital during the fourth quarter worth approximately $18,987,000. Finally, Duality Advisers LP raised its stake in InterDigital by 1,380.5% during the first quarter. Duality Advisers LP now owns 32,320 shares of the Wireless communications provider’s stock worth $3,441,000 after purchasing an additional 30,137 shares during the period. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Wall Street Analyst Weigh In

IDCC has been the subject of several recent research reports. StockNews.com downgraded shares of InterDigital from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Jefferies Financial Group reissued a “hold” rating and set a $100.00 price objective (down from $106.00) on shares of InterDigital in a research note on Monday, May 13th.

InterDigital Stock Up 0.8 %

IDCC opened at $122.12 on Wednesday. The firm has a market cap of $3.08 billion, a P/E ratio of 17.96, a PEG ratio of 1.04 and a beta of 1.42. The business’s fifty day simple moving average is $117.83 and its 200 day simple moving average is $108.88. InterDigital has a 52 week low of $74.65 and a 52 week high of $124.45. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.04.

InterDigital (NASDAQ:IDCC) last released its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.06. The company had revenue of $263.54 million for the quarter, compared to analysts’ expectations of $250.15 million. InterDigital had a net margin of 31.18% and a return on equity of 32.57%. As a group, equities research analysts anticipate that InterDigital will post 6.64 EPS for the current fiscal year.

InterDigital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Wednesday, July 10th. InterDigital’s dividend payout ratio is presently 23.53%.

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.