Qualcomm Inc. (NASDAQ:QCOM) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 23,078,712 shares, a growth of 7.7% from the September 15th total of 21,426,491 shares. Based on an average daily volume of 13,161,265 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.6% of the shares of the company are short sold.

In related news, EVP Matthew S. Grob sold 33,000 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total value of $1,975,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the transaction, the director now directly owns 12,765 shares of the company’s stock, valued at $778,665. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its position in Qualcomm by 6.7% in the third quarter. Private Trust Co. NA now owns 25,552 shares of the wireless technology company’s stock worth $1,750,000 after buying an additional 1,599 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in Qualcomm by 1.0% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 59,427 shares of the wireless technology company’s stock worth $4,071,000 after buying an additional 597 shares during the period. Forte Capital LLC ADV boosted its position in Qualcomm by 44.2% in the third quarter. Forte Capital LLC ADV now owns 14,770 shares of the wireless technology company’s stock worth $1,012,000 after buying an additional 4,525 shares during the period. First PREMIER Bank boosted its position in Qualcomm by 127.8% in the third quarter. First PREMIER Bank now owns 2,718 shares of the wireless technology company’s stock worth $186,000 after buying an additional 1,525 shares during the period. Finally, Orrstown Financial Services Inc. boosted its position in Qualcomm by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock worth $111,000 after buying an additional 565 shares during the period. Hedge funds and other institutional investors own 78.05% of the company’s stock.

Qualcomm (NASDAQ:QCOM) opened at 65.70 on Friday. The firm has a market cap of $96.82 billion, a PE ratio of 19.24 and a beta of 1.25. Qualcomm has a 52-week low of $42.24 and a 52-week high of $70.40. The company’s 50 day moving average price is $64.08 and its 200 day moving average price is $57.23.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Analysts predict that Qualcomm will post $4.30 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.

Several equities analysts recently commented on the stock. BMO Capital Markets lowered shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price objective for the company. in a research report on Thursday, July 14th. Mizuho raised their price target on shares of Qualcomm from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 6th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Qualcomm in a research report on Tuesday, September 20th. Pacific Crest raised their price target on shares of Qualcomm from $59.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, July 21st. Finally, Evercore ISI lowered shares of Qualcomm from a “buy” rating to a “hold” rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Qualcomm has an average rating of “Buy” and a consensus target price of $64.12.

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.

5 Day Chart for NASDAQ:QCOM

Receive News & Stock Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related stocks with our FREE daily email newsletter.