QUALCOMM, Inc. (NASDAQ:QCOM) Sees Large Decline in Short Interest
QUALCOMM, Inc. (NASDAQ:QCOM) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 13,930,000 shares, a decrease of 18.3% from the January 15th total of 17,060,000 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 9,445,200 shares, the short-interest ratio is presently 1.5 days.
A number of equities research analysts have issued reports on the stock. Deutsche Bank increased their price objective on shares of QUALCOMM from $82.00 to $96.00 and gave the stock a “hold” rating in a research note on Wednesday, November 20th. Argus increased their price objective on shares of QUALCOMM from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. BidaskClub downgraded shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Saturday, February 1st. Citigroup upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $89.00 to $108.00 in a research note on Friday, January 17th. Finally, Mizuho reiterated a “buy” rating and set a $100.00 price objective on shares of QUALCOMM in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $94.38.
Shares of QCOM traded down $0.43 during mid-day trading on Friday, reaching $89.60. The company had a trading volume of 6,255,439 shares, compared to its average volume of 9,917,172. The company’s 50 day simple moving average is $89.52 and its 200 day simple moving average is $82.26. QUALCOMM has a 1-year low of $51.60 and a 1-year high of $96.17. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.61 and a current ratio of 1.76. The company has a market capitalization of $101.27 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.23 and a beta of 1.56.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th will be paid a $0.62 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.77%. QUALCOMM’s payout ratio is currently 87.32%.
In related news, EVP Alexander H. Rogers sold 735 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total value of $70,096.95. Following the transaction, the executive vice president now directly owns 14,247 shares in the company, valued at $1,358,736.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $85.07, for a total transaction of $1,276,050.00. Following the completion of the transaction, the executive vice president now owns 22,832 shares in the company, valued at $1,942,318.24. The disclosure for this sale can be found here. Insiders sold 109,458 shares of company stock worth $9,349,683 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of QCOM. Samalin Investment Counsel LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $27,000. Peddock Capital Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $30,000. Howard Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $31,000. AlphaMark Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $31,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $31,000. Institutional investors own 77.48% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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