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Stock Investors Sell Off Shares of InterDigital, Down 2.7%

Published on Mon, 04/01/2013 - 12:38
By Adrienne Chilton

InterDigital (NASDAQ:IDCC) is one of today's biggest movers, down 2.7% to $46.59. The S&P is currently trading 0.5% lower to 1,561 and the Dow Jones Industrial Average is trading fractionally lower to 14,557.

Potential upside of 3.7% exists for InterDigital, based on a current level of $46.59 and analysts' average consensus price target of $48.33. The stock should find initial support at its 50-day moving average (MA) of $45.44 and further support at its 200-day MA of $37.83.

In the past 52 weeks, InterDigital share prices have been bracketed by a low of $22.37 and a high of $82.50 and are now at $46.59, 108% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 1.2%.

InterDigital, Inc. develops technology for advanced digital wireless telecommunications applications. The Company offers both time division multiple access and wide band code division multiple access proprietary and standards compliant digital wireless technology to customers, licensees, and companies.

By Adrienne Chilton