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NEW YORK ( TheStreet) -- InterDigital (Nasdaq: IDCC) hit a new 52-week low Wednesday as it is currently trading at $34.35, below its previous 52-week low of $34.61 with 56,143 shares traded as of 9:35 a.m. ET. Average volume has been 1.2 million shares over the past 30 days. InterDigital has a market cap of $1.63 billion and is part of the technology sector and telecommunications industry. Shares are down 20.3% year to date as of the close of trading on Tuesday. InterDigital, Inc. engages in the design and development of technologies that enable and enhance wireless communications. The company offers technology solutions for use in digital cellular and wireless products and networks, including 2G, 3G, 4G, and IEEE 802-related products and networks. The company has a P/E ratio of 18.2, above the average telecommunications industry P/E ratio of 16.2 and above the S&P 500 P/E ratio of 17.7.