Short Interest in InterDigital, Inc. (NASDAQ:IDCC) Decreases By 5.5%

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

Insider Transactions at InterDigital

In other InterDigital news, insider Eeva K. Hakoranta sold 350 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $214.51, for a total transaction of $75,078.50. Following the sale, the insider now owns 30,537 shares in the company, valued at $6,550,491.87. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Richard Brezski sold 9,602 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $215.21, for a total value of $2,066,446.42. Following the completion of the transaction, the chief financial officer now directly owns 102,555 shares of the company's stock, valued at $22,070,861.55. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,134 shares of company stock worth $4,678,770 over the last quarter. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On InterDigital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Congress Asset Management Co. purchased a new stake in shares of InterDigital in the 4th quarter valued at about $62,583,000. Price T Rowe Associates Inc. MD increased its position in shares of InterDigital by 1,451.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 299,326 shares of the Wireless communications provider's stock worth $57,986,000 after purchasing an additional 280,030 shares during the last quarter. Reinhart Partners LLC. raised its stake in InterDigital by 83.8% in the fourth quarter. Reinhart Partners LLC. now owns 360,238 shares of the Wireless communications provider's stock valued at $69,785,000 after purchasing an additional 164,223 shares in the last quarter. Millennium Management LLC lifted its position in InterDigital by 3,962.5% during the fourth quarter. Millennium Management LLC now owns 128,780 shares of the Wireless communications provider's stock valued at $24,947,000 after purchasing an additional 125,610 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in InterDigital by 283,160.0% in the 3rd quarter. International Assets Investment Management LLC now owns 113,304 shares of the Wireless communications provider's stock worth $16,047,000 after buying an additional 113,264 shares in the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded InterDigital from a "buy" rating to a "hold" rating in a research note on Monday, November 4th.

InterDigital Price Performance

NASDAQ IDCC traded down $5.60 on Friday, hitting $211.40. The stock had a trading volume of 315,962 shares, compared to its average volume of 395,578. The firm has a 50-day moving average of $192.19 and a 200-day moving average of $168.91. 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 $218.76. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44.

InterDigital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, April 9th. This is an increase from InterDigital's previous quarterly dividend of $0.45. InterDigital's dividend payout ratio (DPR) is 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.