Short Interest in QUALCOMM Incorporated (QCOM) Expands By 11.8%
QUALCOMM Incorporated (NASDAQ:QCOM) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 21,414,607 shares, a growth of 11.8% from the August 15th total of 19,159,188 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 6,099,077 shares, the days-to-cover ratio is currently 3.5 days.
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 shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Derek K. Aberle sold 23,104 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now owns 5,855 shares of the company’s stock, valued at $324,249.90. The disclosure for this sale can be found here. Insiders sold a total of 28,995 shares of company stock worth $1,587,390 over the last ninety days. 0.24% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intl Fcstone Inc. boosted its position in QUALCOMM by 132.9% during the second quarter. Intl Fcstone Inc. now owns 35,695 shares of the wireless technology company’s stock worth $1,971,000 after acquiring an additional 20,366 shares during the last quarter. Griffin Asset Management Inc. acquired a new position in QUALCOMM during the second quarter worth about $4,888,000. Gs Investments Inc. acquired a new position in QUALCOMM during the second quarter worth about $650,000. United Bank VA boosted its position in QUALCOMM by 13.9% during the second quarter. United Bank VA now owns 64,846 shares of the wireless technology company’s stock worth $3,581,000 after acquiring an additional 7,929 shares during the last quarter. Finally, Paradigm Financial Advisors LLC boosted its position in QUALCOMM by 23.1% during the second quarter. Paradigm Financial Advisors LLC now owns 74,976 shares of the wireless technology company’s stock worth $4,140,000 after acquiring an additional 14,056 shares during the last quarter. Hedge funds and other institutional investors own 77.03% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research note on Tuesday, June 27th. Northland Securities lowered shares of QUALCOMM from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $75.00 to $62.50 in a research note on Wednesday, June 28th. ValuEngine lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. BMO Capital Markets reiterated a “market perform” rating and set a $55.00 target price on shares of QUALCOMM in a research note on Thursday, August 24th. Finally, William Blair reiterated a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.96.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 51.01 on Thursday. The stock has a market capitalization of $75.29 billion, a price-to-earnings ratio of 19.54 and a beta of 1.29. The company has a 50-day moving average of $52.23 and a 200-day moving average of $55.16. QUALCOMM has a 52-week low of $48.92 and a 52-week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share 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 analyst estimates of $5.25 billion. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. QUALCOMM’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. Equities research analysts anticipate that QUALCOMM will post $4.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, August 28th. This represents a $2.28 dividend on an annualized basis and a yield of 4.47%. QUALCOMM’s payout ratio is presently 87.36%.
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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