QUALCOMM Incorporated (QCOM) Short Interest Down 22.5% in August
QUALCOMM Incorporated (NASDAQ:QCOM) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 19,159,188 shares, a decrease of 22.5% from the July 31st total of 24,727,406 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 9,777,192 shares, the short-interest ratio is currently 2.0 days.
A number of analysts have weighed in on QCOM shares. J P Morgan Chase & Co upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $50.00 to $68.00 in a report on Monday, May 22nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a report on Monday, May 15th. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $60.62 price target for the company in a report on Monday, May 29th. Stifel Nicolaus increased their price target on QUALCOMM from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 26th. Finally, Deutsche Bank AG decreased their price target on QUALCOMM from $62.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $63.96.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 52.27 on Friday. The company has a market capitalization of $77.15 billion, a P/E ratio of 20.02 and a beta of 1.29. QUALCOMM has a 12-month low of $51.05 and a 12-month high of $71.62. The stock’s 50 day moving average is $53.27 and its 200-day moving average is $55.47.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 earnings per share. Analysts anticipate that QUALCOMM will post $4.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.36%. QUALCOMM’s payout ratio is 87.36%.
In other QUALCOMM news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders sold 28,995 shares of company stock valued at $1,587,390 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of QCOM. Westwood Holdings Group Inc. bought a new position in QUALCOMM during the second quarter valued at $114,000. Krilogy Financial LLC boosted its position in QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in QUALCOMM during the second quarter valued at $141,000. Jacobi Capital Management LLC boosted its position in QUALCOMM by 10.8% in the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock valued at $145,000 after buying an additional 250 shares during the last quarter. Finally, Alpha Windward LLC raised its position in QUALCOMM by 6.1% in the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock valued at $148,000 after buying an additional 153 shares during the period. 77.07% of the stock is owned by institutional investors.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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