InterDigital, Inc. (NASDAQ:IDCC) Short Interest Down 12.1% in November

InterDigital, Inc. (NASDAQ:IDCC) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,210,000 shares, a drop of 12.1% from the October 31st total of 3,650,000 shares. Based on an average daily volume of 378,100 shares, the short-interest ratio is presently 8.5 days. Approximately 13.0% of the shares of the stock are short sold.

InterDigital Trading Up 0.3 %

NASDAQ IDCC traded up $0.61 during trading on Monday, hitting $196.57. 285,340 shares of the company’s stock traded hands, compared to its average volume of 450,495. The firm has a market cap of $4.98 billion, a P/E ratio of 20.94, a PEG ratio of 0.82 and a beta of 1.38. The stock has a fifty day moving average of $162.85 and a two-hundred day moving average of $138.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.62 and a quick ratio of 1.62. InterDigital has a 12-month low of $95.33 and a 12-month high of $199.79.

InterDigital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.45 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.92%. InterDigital’s payout ratio is presently 19.23%.

Insider Buying and Selling at InterDigital

In related news, Director John A. Kritzmacher sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $138.72, for a total value of $346,800.00. Following the sale, the director now directly owns 20,279 shares of the company’s stock, valued at $2,813,102.88. This trade represents a 10.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of InterDigital stock in a transaction on Monday, October 7th. The stock was sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock valued at $472,253 in the last three months. Company insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

Several hedge funds and other institutional investors have recently modified their holdings of IDCC. Transcendent Capital Group LLC bought a new stake in shares of InterDigital in the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in InterDigital in the 3rd quarter worth approximately $26,000. 1620 Investment Advisors Inc. bought a new stake in shares of InterDigital in the 2nd quarter worth approximately $29,000. GAMMA Investing LLC increased its stake in shares of InterDigital by 50.8% during 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 period. Finally, Nisa Investment Advisors LLC increased its stake in shares of InterDigital by 38.0% during 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 period. 99.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IDCC. Roth Mkm raised their price objective on InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

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.