IDCC Stock Summary and Trading Ideas (Interdigital | NASDAQ:IDCC)

InterDigital Inc is a research and development company focused on wireless, video, Artificial Intelligence and related technologies. It designs and develops technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. The majority of revenue is generated from fixed-fee patent license agreements, with a smaller portion coming from variable royalty agreements. Geographically it operates in the United States, China, South Korea, Japan, Taiwan, and Europe, Out of which the majority is from the China.

Interdigital trades on the NASDAQ stock market under the symbol IDCC.

As of April 19, 2024, IDCC stock price climbed to $96.63 with 380,690 million shares trading.

IDCC has a beta of 1.30, meaning it tends to be more sensitive to market movements. IDCC has a correlation of 0.18 to the broad based SPY ETF.

IDCC has a market cap of $2.46 billion. This is considered a Mid Cap stock.

Last quarter Interdigital reported $106 million in Revenue and $1.41 earnings per share. This beat revenue expectation by $878,000 and exceeded earnings estimates by $.52.

In the last 3 years, IDCC stock traded as high as $119.86 and as low as $40.23.

The top ETF exchange traded funds that IDCC belongs to (by Net Assets): IJR, VTI, VB, IWM, AVUV.

IDCC has outperformed the market in the last year with a price return of +36.0% while the SPY ETF gained +21.2%. However, in the short term, IDCC had mixed performance relative to the market. It has underperformed in the last 3 months, returning -7.4% vs +4.3% return in SPY. But in the last 2 weeks, IDCC shares have fared better than the market returning +1.3% compared to SPY -3.5%.

IDCC support price is $94.41 and resistance is $96.91 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that IDCC stock will trade within this expected range on the day.