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NEW YORK ( TheStreet) -- InterDigital (Nasdaq: IDCC) hit a new 52-week low Monday as it is currently trading at $31.05, below its previous 52-week low of $31.36 with 6,743 shares traded as of 9:30 a.m. ET. Average volume has been 1.1 million shares over the past 30 days. InterDigital has a market cap of $1.55 billion and is part of the technology sector and telecommunications industry. Shares are down 27.9% year to date as of the close of trading on Friday. 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 16.4, below the average telecommunications industry P/E ratio of 17.7 and below the S&P 500 P/E ratio of 17.7.