InterDigital, Inc. (NASDAQ:IDCC) Short Interest Up 31.0% in April


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InterDigital, Inc. (NASDAQ:IDCC) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,240,000 shares, an increase of 31.0% from the March 31st total of 1,710,000 shares. Based on an average daily trading volume, of 0 shares, the short-interest ratio is currently ∞ days.

IDCC traded down $1.15 during trading on Tuesday, reaching $68.11. The company’s stock had a trading volume of 4,671 shares, compared to its average volume of 327,298. InterDigital has a 52-week low of $51.31 and a 52-week high of $74.20. The company’s fifty day moving average price is $68.43 and its 200-day moving average price is $64.12. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.25 and a current ratio of 3.25.

InterDigital (NASDAQ:IDCC) last issued its quarterly earnings data on Thursday, February 18th. The Wireless communications provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). InterDigital had a return on equity of 5.25% and a net margin of 16.17%. The company had revenue of $90.79 million for the quarter, compared to analyst estimates of $88.03 million. Equities analysts predict that InterDigital will post 1.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Wednesday, April 14th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, April 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.06%. InterDigital’s dividend payout ratio is currently 212.12%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors raised its holdings in InterDigital by 27.8% in the 4th quarter. Captrust Financial Advisors now owns 690 shares of the Wireless communications provider’s stock valued at $42,000 after acquiring an additional 150 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in InterDigital by 0.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 30,248 shares of the Wireless communications provider’s stock valued at $1,835,000 after acquiring an additional 159 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in InterDigital by 9.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,300 shares of the Wireless communications provider’s stock valued at $140,000 after acquiring an additional 200 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in InterDigital by 31.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 905 shares of the Wireless communications provider’s stock valued at $55,000 after acquiring an additional 217 shares during the last quarter. Finally, Liberty One Investment Management LLC raised its holdings in InterDigital by 2.1% in the 4th quarter. Liberty One Investment Management LLC now owns 13,723 shares of the Wireless communications provider’s stock valued at $833,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 77.68% of the company’s stock.

A number of research firms have weighed in on IDCC. B. Riley raised their price target on InterDigital from $100.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, February 19th. Colliers Securities reiterated a “buy” rating on shares of InterDigital in a research report on Thursday, January 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. InterDigital has a consensus rating of “Buy” and an average target price of $92.80.

About InterDigital

InterDigital, Inc designs and develops technologies that enable and enhance wireless communications in the United States and internationally. It provides technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, 5G, and IEEE 802-related products and networks.

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