InterDigital Wireless Inc (NASDAQ:IDCC) Short Interest Up 9.7% in July

InterDigital Wireless Inc (NASDAQ:IDCC) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 1,580,000 shares, an increase of 9.7% from the June 30th total of 1,440,000 shares. Based on an average daily trading volume, of 251,200 shares, the short-interest ratio is presently 6.3 days. Currently, 5.2% of the shares of the company are sold short.

InterDigital Wireless stock traded up $0.23 during mid-day trading on Tuesday, hitting $62.80. The company’s stock had a trading volume of 5,052 shares, compared to its average volume of 180,578. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.93 billion, a P/E ratio of 83.80, a P/E/G ratio of 2.80 and a beta of 1.16. InterDigital Wireless has a twelve month low of $31.04 and a twelve month high of $64.22. The stock’s fifty day moving average price is $57.03 and its two-hundred day moving average price is $53.67.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.40 annualized dividend and a yield of 2.23%. InterDigital Wireless’s dividend payout ratio (DPR) is 212.12%.

In other news, Director John A. Kritzmacher sold 969 shares of InterDigital Wireless stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $56.22, for a total transaction of $54,477.18. Following the sale, the director now owns 17,178 shares of the company’s stock, valued at $965,747.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Philip P. Trahanas sold 4,964 shares of InterDigital Wireless stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $56.25, for a total value of $279,225.00. Following the sale, the director now directly owns 15,981 shares in the company, valued at approximately $898,931.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,633 shares of company stock worth $374,281. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of IDCC. Norges Bank acquired a new position in InterDigital Wireless in the fourth quarter worth approximately $24,010,000. Invenomic Capital Management LP acquired a new position in InterDigital Wireless in the first quarter worth approximately $3,798,000. Boston Trust Walden Corp grew its position in InterDigital Wireless by 24.8% in the first quarter. Boston Trust Walden Corp now owns 291,197 shares of the Wireless communications provider’s stock worth $12,996,000 after buying an additional 57,813 shares during the last quarter. Ziegler Capital Management LLC acquired a new position in InterDigital Wireless in the first quarter worth approximately $2,556,000. Finally, General American Investors Co. Inc. grew its position in InterDigital Wireless by 33.4% in the second quarter. General American Investors Co. Inc. now owns 203,235 shares of the Wireless communications provider’s stock worth $11,509,000 after buying an additional 50,898 shares during the last quarter. Hedge funds and other institutional investors own 76.59% of the company’s stock.

A number of research firms have recently weighed in on IDCC. ValuEngine cut InterDigital Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. BidaskClub raised InterDigital Wireless from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Dougherty & Co reissued a “buy” rating and set a $87.00 target price on shares of InterDigital Wireless in a report on Sunday, June 7th. B. Riley reissued a “buy” rating and set a $90.00 target price on shares of InterDigital Wireless in a report on Thursday, July 16th. Finally, Oppenheimer assumed coverage on InterDigital Wireless in a report on Wednesday, July 15th. They set an “outperform” rating and a $90.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $92.75.

InterDigital Wireless Company Profile

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 and IEEE 802-related products and networks.

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