The stock price was way ahead of itself at $58 (priced for perfection) and then the company delivered a miss on earnings and a major decline in revenue guidance going forward (thanks to not re-signing LG, one of their most important customers).
The only thing holding the stock price at this level is the conventional wisdom (more often wrong than not) that InterDigital is going to win its appeal against Nokia in the Court of Appeals for the Federal Circuit. If that proves wrong, look out below.
Management obviously anticipates being cash strapped or they wouldn't be borrowing $150 million, so short term things don't look so rosy.
Longer term, surely we can re-sign our customers and take advantage of the smart phone explosion.