QUALCOMM, Inc. (NASDAQ:QCOM) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 18,872,000 shares, a decline of 11.4% from the May 15th total of 21,296,400 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 20,960,000 shares, the days-to-cover ratio is presently 0.9 days.
In other news, EVP Alexander H. Rogers sold 20,862 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $88.43, for a total transaction of $1,844,826.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Clark T. Jr. Randt sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total value of $179,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 949,832 shares of company stock valued at $37,443,538 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. HL Financial Services LLC lifted its holdings in QUALCOMM by 0.6% during the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after acquiring an additional 128 shares during the period. Harrington Investments INC lifted its holdings in QUALCOMM by 1.1% during the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after acquiring an additional 150 shares during the period. Evolution Wealth Advisors LLC lifted its holdings in QUALCOMM by 4.6% during the first quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 154 shares during the period. Atlas Brown Inc. lifted its holdings in QUALCOMM by 3.5% during the first quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock worth $303,000 after acquiring an additional 179 shares during the period. Finally, Berman Capital Advisors LLC lifted its holdings in QUALCOMM by 18.3% during the first quarter. Berman Capital Advisors LLC now owns 1,166 shares of the wireless technology company’s stock worth $65,000 after acquiring an additional 180 shares during the period. 76.27% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Edward Jones lowered QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 price objective for the company. in a research report on Thursday, May 23rd. Deutsche Bank assumed coverage on Markel in a research note on Thursday, May 23rd. They issued a “hold” rating and a $1,000.00 target price on the stock. Morgan Stanley set a $40.00 target price on Halliburton and gave the company a “buy” rating in a research note on Tuesday, April 23rd. ValuEngine cut Wave Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Argus boosted their target price on QUALCOMM to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Buy” and an average target price of $79.79.
NASDAQ QCOM opened at $74.90 on Friday. The business’s 50 day simple moving average is $71.41. QUALCOMM has a one year low of $49.10 and a one year high of $90.34. The firm has a market capitalization of $91.06 billion, a PE ratio of 23.48, a P/E/G ratio of 1.79 and a beta of 1.63. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, sell-side analysts predict that QUALCOMM will post 3.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th were paid a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a yield of 3.31%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.
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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