Replies to post #173932 on InterDigital Inc (IDCC)

[Gamco]

spider69 - Your post copied below:

looks like they had 13 million left so you can bet your booty they were buying under $30 like many of us...

When a stock buyback is authorized by the Board of Directors, there is usually a press release stating either the amount of dollars authorized for a buyback (such as IDCC announced today) OR the number of shares authorized to be repurchased. In either case, what is NOT included in the press release is the price that the Board authorized. This is usually defined as an average per share price. It appears that the previous IDCC share repurchase authorization permitted an average price not to exceed $30.00. That's not to imply that IDCC didn't buy shares above $30 per share but that during the repurchase program the average price remained less than the $30 authorized by the Board.

Having said that, what we do not know is what the Board authorized as the new average price per share associated with the renewal of the repurchase plan.

[bulldzr]

"Under the current $200 million repurchase program, the company has repurchased 6.4 million shares for $187 million as of December 27, 2006."

187M / 6.4M = $29.22 avg cost per share