QUALCOMM, Inc. (NASDAQ:QCOM) Short Interest Update

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QUALCOMM, Inc. (NASDAQ:QCOM) was the target of a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 15,920,000 shares, a drop of 11.7% from the November 14th total of 18,030,000 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 7,993,200 shares, the short-interest ratio is currently 2.0 days.

Several analysts have commented on QCOM shares. Cowen restated a “buy” rating and set a $100.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, October 7th. Argus raised their target price on shares of QUALCOMM from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Canaccord Genuity restated a “buy” rating and set a $101.00 target price on shares of QUALCOMM in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of QUALCOMM from $88.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $85.60.

Shares of QCOM traded down $1.22 during mid-day trading on Friday, hitting $87.83. 11,517,860 shares of the company’s stock were exchanged, compared to its average volume of 9,427,511. The company has a market cap of $99.33 billion, a PE ratio of 30.93, a P/E/G ratio of 1.79 and a beta of 1.61. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $94.11. The company has a 50-day simple moving average of $85.45 and a 200 day simple moving average of $77.11. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.88 and a quick ratio of 1.72.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. On average, analysts anticipate that QUALCOMM will post 3.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, December 4th. This represents a $2.48 annualized dividend and a dividend yield of 2.82%. QUALCOMM’s dividend payout ratio is currently 87.32%.

In other QUALCOMM news, EVP Alexander H. Rogers sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 22,832 shares in the company, valued at approximately $1,942,318.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Cristiano R. Amon sold 33,932 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $84.87, for a total transaction of $2,879,808.84. Following the sale, the president now owns 66,718 shares in the company, valued at $5,662,356.66. The disclosure for this sale can be found here. Insiders sold a total of 118,905 shares of company stock worth $9,945,126 over the last quarter. 0.11% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of QUALCOMM by 2.4% in the second quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock valued at $7,599,444,000 after buying an additional 2,296,163 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 49.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock valued at $2,672,850,000 after buying an additional 11,686,131 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 8.7% in the second quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock valued at $1,930,950,000 after buying an additional 2,035,743 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of QUALCOMM by 0.3% in the second quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock valued at $1,880,201,000 after buying an additional 83,270 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of QUALCOMM by 1.9% in the second quarter. Northern Trust Corp now owns 15,783,756 shares of the wireless technology company’s stock valued at $1,200,669,000 after buying an additional 301,087 shares in the last quarter. 77.39% of the stock is owned by institutional investors.

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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