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

InterDigital, Inc. (NASDAQ:IDCC) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 3,210,000 shares, a decline 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 currently 8.5 days. Approximately 13.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDCC. Roth Mkm boosted their price objective on shares of InterDigital from $146.00 to $160.00 and gave the stock a “buy” rating in a research note 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 Trading Down 0.2 %

IDCC traded down $0.47 during trading on Friday, reaching $195.96. 168,278 shares of the stock traded hands, compared to its average volume of 363,141. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.97 billion, a PE ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 1.38. The stock’s 50-day moving average is $162.85 and its 200 day moving average is $137.94. InterDigital has a 12 month low of $95.33 and a 12 month high of $199.79.

InterDigital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.45 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 0.92%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is currently 19.23%.

Insider Buying and Selling at InterDigital

In related news, Director John A. Kritzmacher sold 2,500 shares of the business’s stock in a transaction 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 owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was 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 the business’s 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 completion of the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at approximately $7,850,615.52. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,340 shares of company stock worth $472,253 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On InterDigital

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors grew its position in InterDigital by 0.5% in the 3rd quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after purchasing an additional 68 shares in the last quarter. Simplicity Wealth LLC grew its position in InterDigital by 1.5% in the 3rd quarter. Simplicity Wealth LLC now owns 4,696 shares of the Wireless communications provider’s stock worth $665,000 after purchasing an additional 69 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in InterDigital by 2.0% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 4,602 shares of the Wireless communications provider’s stock worth $536,000 after purchasing an additional 90 shares in the last quarter. Blue Trust Inc. grew its position in InterDigital by 9.4% in the 3rd quarter. Blue Trust Inc. now owns 1,175 shares of the Wireless communications provider’s stock worth $166,000 after purchasing an additional 101 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in InterDigital by 38.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 396 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds 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.