What’s Lifting InterDigital Inc (NASDAQ:IDCC) Shares Lately

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InterDigital Inc (NASDAQ:IDCC) shares dipped 0.17% on Monday to $89.05 and an additional 0.02% to $89.03 in after-hours trading. Share prices have been trading in a 52-week range of $41.01 to $98.00. The company has a market cap of $3.06 billion at 34.28 million shares outstanding.

InterDigital Inc is a company that designs and develops technologies for wireless communications. These products are used in digital cellular and wireless products and networks, including second generation, third generation, fourth generation and IEEE 802 related products and networks. Its 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. Products integrating its technologies include mobile devices, such as cellular phones, tablets, notebook computers and wireless personal digital assistants; wireless infrastructure equipment, such as base stations, and components, dongles and modules for wireless devices. The Company is focused on approximately two technology areas: cellular wireless technology and Internet of Things technology.

This week, InterDigital Inc shared that it received a 2016 IoT Evolution Connected Transportation Award from IoT Evolution magazine, which is a leading publication covering IoT technologies.

We’re honored to receive this award from IoT Evolution magazine,” said Jim Nolan, Executive Vice President, IoT Solutions, InterDigital Inc. “This marks the fourth time that one of InterDigital’s IoT solutions has been shortlisted or won a major award in the connected transportation space.”

The award honors organizations delivering services, software or hardware solutions that enable advancement of connected devices. In particular, InterDigital Inc was recognized for the application of its IoT platform in oneTRANSPORTTM, which is one the largest to date smart city initiatives that enables transport data brokerage and innovative services covering numerous counties in the United Kingdom.

oneTRANSPORTTM is a two-year Innovate UK project, which involves a group of eleven partners including Arup, Buckinghamshire County Council, Clearview Intelligence, Hertfordshire County Council, Highways England, Imperial College London, Northamptonshire County Council, Oxfordshire County Council, Traak Systems, Worldsensing and InterDigital Europe. The technology utilized by this integrated transport initiative will assist transport authorities while laying the foundation for smarter multi-modal, multi-regional and multi-system transport networks in the United Kingdom.

The solutions selected for the IoT Evolution Connected Transportation Award exemplify excellence in creating and bringing to market solutions contributing to the fast-growing Internet of Things marketplace. It is my honor to congratulate InterDigital for their innovative work and contribution to this rapidly evolving industry,” said Carl Ford, CEO of Crossfire Media, a co-publisher of IoT Evolution Magazine.

InterDigital Inc shares are still on a steady uptrend but appear to be making a correction from the recent climb. Volumes have been subdued so profit-taking could happen, possibly allowing price to dip to the $80 area before heading further north and testing the $100 level.

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