QUALCOMM Target of Unusually High Options Trading (QCOM)
QUALCOMM Incorporated (NASDAQ:QCOM) saw some unusual options trading on Friday. Stock investors acquired 24,713 call options on the stock. This represents an increase of 180% compared to the typical volume of 8,814 call options.
Several research analysts have weighed in on the company. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a report on Monday, May 15th. UBS AG reiterated a “neutral” rating and issued a $58.00 price target on shares of QUALCOMM in a report on Tuesday, May 2nd. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price target for the company. in a report on Tuesday, May 2nd. Wells Fargo & Company restated an “outperform” rating on shares of QUALCOMM in a report on Tuesday, June 27th. Finally, Northland Securities downgraded QUALCOMM from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $75.00 to $62.50 in a report on Wednesday, June 28th. 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 given a strong buy rating to the stock. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $63.96.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 51.81 on Wednesday. QUALCOMM has a 1-year low of $51.05 and a 1-year high of $71.62. The company’s 50-day moving average is $53.67 and its 200 day moving average is $55.51. The firm has a market cap of $76.47 billion, a price-to-earnings ratio of 19.84 and a beta of 1.29.
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 analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. On average, equities research analysts expect that QUALCOMM will post $4.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders 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 dividend on an annualized basis and a yield of 4.40%. QUALCOMM’s payout ratio is 87.36%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Derek K. Aberle sold 22,251 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now owns 28,959 shares of the company’s stock, valued at $1,667,748.81. The disclosure for this sale can be found here. Insiders sold a total of 51,246 shares of company stock valued at $2,868,825 over the last quarter. 0.24% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. First PREMIER Bank increased its stake in QUALCOMM by 46.5% in the first quarter. First PREMIER Bank now owns 4,838 shares of the wireless technology company’s stock worth $278,000 after buying an additional 1,535 shares during the last quarter. Capital Asset Advisory Services LLC increased its stake in QUALCOMM by 8.0% in the first quarter. Capital Asset Advisory Services LLC now owns 14,148 shares of the wireless technology company’s stock worth $811,000 after buying an additional 1,047 shares during the last quarter. Gradient Investments LLC increased its stake in QUALCOMM by 42.0% in the first quarter. Gradient Investments LLC now owns 110,654 shares of the wireless technology company’s stock worth $6,345,000 after buying an additional 32,728 shares during the last quarter. Bank of Montreal Can increased its stake in QUALCOMM by 12.9% in the first quarter. Bank of Montreal Can now owns 1,671,984 shares of the wireless technology company’s stock worth $95,873,000 after buying an additional 190,730 shares during the last quarter. Finally, Highland Capital Management LLC increased its stake in QUALCOMM by 4.8% in the first quarter. Highland Capital Management LLC now owns 74,918 shares of the wireless technology company’s stock worth $4,296,000 after buying an additional 3,444 shares during the last quarter. Institutional investors own 77.07% of the company’s stock.
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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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