Interdigital Incorporated (NASDAQ:IDCC) Short Interest Decreased By 17.73%
Blanche Silva?May 28, 2016
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The stock of Interdigital Incorporated (NASDAQ:IDCC) registered a decrease of 17.73% in short interest. IDCC’s total short interest was 2.14M shares in May as published by FINRA. Its down 17.73% from 2.60M shares, reported previously. With 324,500 shares average volume, it will take short sellers 7 days to cover their IDCC’s short positions. The short interest to Interdigital Incorporated’s float is 6.28%. The stock increased 0.47% or $0.27 on May 27, hitting $57.89. About 178,564 shares traded hands. InterDigital, Inc. (NASDAQ:IDCC) has risen 17.12% since October 22, 2015 and is uptrending. It has outperformed by 14.85% the S&P500.
InterDigital, Inc. designs and develops technologies for wireless communications. The company has a market cap of $2.01 billion. The Firm has designed and developed a range of technologies that are used in digital cellular and wireless products and networks, including second generation , third generation (3G), fourth generation (4G) and IEEE 802 related products and networks. It has a 17.62 P/E ratio. The Company’s subsidiaries hold a portfolio of approximately 20,400 patents and patent applications related to a range of technologies, including the fundamental technologies that enable wireless communications.
The institutional sentiment decreased to 0.76 in 2015 Q4. Its down 0.01, from 0.77 in 2015Q3. The ratio fall, as 27 funds sold all InterDigital, Inc. shares owned while 79 reduced positions. 13 funds bought stakes while 68 increased positions. They now own 23.99 million shares or 5.73% less from 25.45 million shares in 2015Q3.
Shannon River Fund Management Llc holds 6.22% of its portfolio in InterDigital, Inc. for 654,488 shares. Permit Capital Llc owns 135,880 shares or 5.3% of their US portfolio. Moreover, Ulysses Management Llc has 2.84% invested in the company for 475,000 shares. The Maryland-based Fort L.P. has invested 2.42% in the stock. Hays Advisory Llc, a Tennessee-based fund reported 184,780 shares.
Out of 3 analysts covering InterDigital (NASDAQ:IDCC), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. InterDigital has been the topic of 5 analyst reports since August 11, 2015 according to StockzIntelligence Inc.
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