QUALCOMM, Inc. (NASDAQ:QCOM) saw a significant growth in short interest in the month of April. As of April 28th, there was short interest totalling 20,883,090 shares, a growth of 30.7% from the April 13th total of 15,980,866 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 14,396,938 shares, the days-to-cover ratio is presently 1.5 days.
In other QUALCOMM news, EVP James H. Thompson sold 25,000 shares of the company’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $52.53, for a total transaction of $1,313,250.00. Following the transaction, the executive vice president now directly owns 76,246 shares in the company, valued at $4,005,202.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann M. Livermore bought 9,000 shares of the stock in a transaction on Thursday, May 11th. The shares were bought at an average price of $54.59 per share, for a total transaction of $491,310.00. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Massey Quick & Co. LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $105,000. Edmond DE Rothschild Monaco acquired a new position in shares of QUALCOMM during the third quarter worth about $112,000. American National Bank increased its position in shares of QUALCOMM by 41.0% in the first quarter. American National Bank now owns 2,825 shares of the wireless technology company’s stock worth $162,000 after buying an additional 822 shares during the period. Jacobi Capital Management LLC increased its position in shares of QUALCOMM by 11.2% in the third quarter. Jacobi Capital Management LLC now owns 2,467 shares of the wireless technology company’s stock worth $164,000 after buying an additional 248 shares during the period. Finally, Welch Group LLC increased its position in shares of QUALCOMM by 2.3% in the first quarter. Welch Group LLC now owns 3,037 shares of the wireless technology company’s stock worth $174,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 79.28% of the company’s stock.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 55.32 on Friday. The firm has a market capitalization of $81.73 billion, a price-to-earnings ratio of 18.43 and a beta of 1.31. QUALCOMM has a 12-month low of $50.84 and a 12-month high of $71.62. The company’s 50-day moving average is $54.82 and its 200-day moving average is $60.42.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.29. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. QUALCOMM’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, equities analysts forecast that QUALCOMM will post $4.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 31st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, May 26th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. QUALCOMM’s dividend payout ratio is 64.63%.
Several research analysts have weighed in on QCOM shares. Cowen and Company lowered their target price on shares of QUALCOMM to $73.00 in a research report on Thursday, January 26th. Morgan Stanley lowered their target price on shares of QUALCOMM to $60.00 in a research report on Thursday, January 26th. Instinet reduced their price target on shares of QUALCOMM to $65.00 in a report on Thursday, January 26th. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $74.42 price target on the stock. in a report on Tuesday, January 17th. Finally, Mizuho reaffirmed a “buy” rating and issued a $75.00 price target on shares of QUALCOMM in a report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.66.
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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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