InterDigital Wireless Inc (NASDAQ:IDCC) Short Interest Update
InterDigital Wireless Inc (NASDAQ:IDCC) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,813,000 shares, a growth of 6.7% from the June 15th total of 1,698,700 shares. Based on an average daily volume of 395,500 shares, the days-to-cover ratio is currently 4.6 days. Currently, 5.7% of the shares of the company are sold short.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. BidaskClub lowered shares of Xilinx from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $85.00.
Shares of IDCC traded down $0.12 during mid-day trading on Tuesday, reaching $64.79. 245,603 shares of the stock traded hands, compared to its average volume of 337,946. The business has a fifty day simple moving average of $65.15. The firm has a market cap of $2.10 billion, a P/E ratio of 35.80, a price-to-earnings-growth ratio of 7.41 and a beta of 1.00. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.02. InterDigital Wireless has a 1 year low of $62.34 and a 1 year high of $83.65.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.16%. InterDigital Wireless’s dividend payout ratio (DPR) is currently 77.35%.
In related news, Director Jean F. Rankin sold 680 shares of InterDigital Wireless stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $64.84, for a total value of $44,091.20. Following the completion of the transaction, the director now directly owns 20,918 shares in the company, valued at approximately $1,356,323.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William J. Merritt sold 15,000 shares of InterDigital Wireless stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $65.02, for a total transaction of $975,300.00. Following the completion of the transaction, the insider now owns 176,065 shares of the company’s stock, valued at $11,447,746.30. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IDCC. Norges Bank purchased a new position in shares of InterDigital Wireless during the 4th quarter valued at $42,421,000. Millennium Management LLC bought a new stake in shares of InterDigital Wireless during the 4th quarter worth $3,557,000. Bank of America Corp DE lifted its holdings in shares of InterDigital Wireless by 43.5% during the 4th quarter. Bank of America Corp DE now owns 124,976 shares of the Wireless communications provider’s stock worth $8,302,000 after acquiring an additional 37,913 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of InterDigital Wireless by 77.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 65,932 shares of the Wireless communications provider’s stock worth $4,350,000 after acquiring an additional 28,751 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of InterDigital Wireless by 12.9% during the 4th quarter. Principal Financial Group Inc. now owns 180,483 shares of the Wireless communications provider’s stock worth $11,989,000 after acquiring an additional 20,623 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.
About InterDigital Wireless
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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