InterDigital, Inc. (NASDAQ:IDCC) Sees Large Drop in Short Interest

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other InterDigital news, CEO Lawrence Liren Chen sold 5,891 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were 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 $30,004,266.24. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction that occurred 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 owns 52,997 shares in the company, valued at $10,818,277.61. The trade was a 1.30 % 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 worth $2,537,245. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its stake in InterDigital by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,932 shares of the Wireless communications provider’s stock worth $568,000 after acquiring an additional 51 shares during the period. One Wealth Advisors LLC lifted its stake in InterDigital by 1.8% in the fourth quarter. One Wealth Advisors LLC now owns 3,599 shares of the Wireless communications provider’s stock worth $697,000 after acquiring an additional 64 shares during the period. Savant Capital LLC lifted its stake in InterDigital by 2.8% in the fourth quarter. Savant Capital LLC now owns 2,379 shares of the Wireless communications provider’s stock worth $461,000 after acquiring an additional 64 shares during the period. Captrust Financial Advisors lifted its stake in InterDigital by 0.5% in the third quarter. Captrust Financial Advisors now owns 13,876 shares of the Wireless communications provider’s stock worth $1,965,000 after acquiring an additional 68 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in InterDigital by 3.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,646 shares of the Wireless communications provider’s stock worth $513,000 after acquiring an additional 83 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Stock Down 0.0 %

Shares of InterDigital stock opened at $217.28 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.70 and a current ratio of 1.70. InterDigital has a 52-week low of $95.33 and a 52-week high of $218.20. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.55 and a beta of 1.44. The company’s 50 day moving average price is $191.43 and its 200-day moving average price is $168.04.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a $0.60 dividend. This is a boost from InterDigital’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, April 9th. This represents a $2.40 annualized dividend and a dividend yield of 1.10%. InterDigital’s dividend payout ratio (DPR) is currently 14.95%.

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.