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

InterDigital, Inc. (NASDAQ:IDCC) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 2,070,000 shares, a decline of 5.5% from the January 15th total of 2,190,000 shares. Approximately 8.3% of the company’s stock are short sold. Based on an average daily volume of 373,800 shares, the short-interest ratio is presently 5.5 days.

Insider Transactions at InterDigital

In other news, CTO Rajesh Pankaj sold 700 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $204.13, for a total transaction of $142,891.00. Following the transaction, the chief technology officer now directly owns 52,997 shares of the company’s stock, valued at approximately $10,818,277.61. The trade was a 1.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lawrence Liren Chen sold 5,891 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $189.12, for a total transaction of $1,114,105.92. Following the transaction, the chief executive officer now directly owns 158,652 shares in the company, valued at approximately $30,004,266.24. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,182 shares of company stock valued at $2,537,245. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of InterDigital

A number of institutional investors and hedge funds have recently modified their holdings of IDCC. Transcendent Capital Group LLC acquired a new stake in shares of InterDigital during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of InterDigital during the third quarter worth $26,000. Global Retirement Partners LLC raised its holdings in shares of InterDigital by 504.5% during the fourth quarter. Global Retirement Partners LLC now owns 133 shares of the Wireless communications provider’s stock worth $26,000 after purchasing an additional 111 shares during the period. Elequin Capital LP acquired a new stake in shares of InterDigital during the fourth quarter worth $29,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of InterDigital during the fourth quarter worth $39,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com cut shares of InterDigital from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

InterDigital Trading Up 1.4 %

IDCC opened at $217.29 on Wednesday. The stock has a market capitalization of $5.58 billion, a PE ratio of 18.05, a P/E/G ratio of 2.41 and a beta of 1.44. The firm’s fifty day moving average price is $190.97 and its 200 day moving average price is $167.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.70 and a quick ratio of 1.62. InterDigital has a 12-month low of $95.33 and a 12-month high of $217.32.

InterDigital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.10%. This is a boost from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. InterDigital’s dividend payout ratio is 19.93%.

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.