QUALCOMM Incorporated (NASDAQ:QCOM) Short Interest Update

QUALCOMM Incorporated (NASDAQ:QCOM) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 18,900,000 shares, a decline of 21.3% from the January 15th total of 24,010,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 8,470,000 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Meiji Yasuda Life Insurance Co increased its holdings in shares of QUALCOMM by 8.1% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 4,391 shares of the wireless technology company’s stock worth $675,000 after purchasing an additional 330 shares in the last quarter. Wahed Invest LLC increased its holdings in shares of QUALCOMM by 4.2% in the 4th quarter. Wahed Invest LLC now owns 28,054 shares of the wireless technology company’s stock worth $4,310,000 after purchasing an additional 1,127 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of QUALCOMM by 2.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 575,101 shares of the wireless technology company’s stock worth $88,347,000 after purchasing an additional 12,533 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of QUALCOMM by 109.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 925 shares of the wireless technology company’s stock worth $142,000 after purchasing an additional 483 shares in the last quarter. Finally, Keel Point LLC increased its holdings in shares of QUALCOMM by 7.5% in the 4th quarter. Keel Point LLC now owns 29,858 shares of the wireless technology company’s stock worth $4,587,000 after purchasing an additional 2,089 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Sanford C. Bernstein boosted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 0.0 %

Shares of QCOM traded up $0.08 on Friday, reaching $172.23. The stock had a trading volume of 4,685,871 shares, compared to its average volume of 7,928,451. The firm has a market capitalization of $190.49 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The company has a 50-day simple moving average of $163.13 and a 200-day simple moving average of $165.49. QUALCOMM has a 12-month low of $148.90 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts predict that QUALCOMM will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.