InterDigital Said It Will Sell $150 Million Of Senior Notes

March 29, 2011

InterDigital (NASDAQ:IDCC) said it will sell $150million of senior notes convertible into shares.The notes will be offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933.InterDigital has a potential upside of 17.8% based on a current price of $43.57 and an average consensus analyst price target of $51.31.InterDigital is currently below its 50-day moving average (MA) of $48.47 and should find support at its 200-day MA of $35.39.