QUALCOMM Incorporated (NASDAQ:QCOM) Short Interest Up 19.6% in June

QUALCOMM Incorporated (NASDAQ:QCOM) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 27,850,000 shares, a growth of 19.6% from the June 15th total of 23,280,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 9,500,000 shares, the short-interest ratio is presently 2.9 days.

QUALCOMM Stock Up 2.8 %

Shares of QCOM traded up $5.75 during mid-day trading on Monday, reaching $208.18. The company had a trading volume of 7,458,739 shares, compared to its average volume of 9,152,585. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The company has a market capitalization of $232.33 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.46 and a beta of 1.27. The firm has a 50-day moving average price of $203.15 and a 200 day moving average price of $173.95.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, sell-side analysts forecast that QUALCOMM will post 7.85 EPS for the current year.

Insider Transactions at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock valued at $8,552,835. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Pine Haven Investment Counsel Inc lifted its position in QUALCOMM by 2.5% in the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock valued at $410,000 after acquiring an additional 50 shares in the last quarter. Buffington Mohr McNeal lifted its holdings in shares of QUALCOMM by 3.9% during the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock valued at $279,000 after purchasing an additional 53 shares in the last quarter. Grandview Asset Management LLC boosted its position in shares of QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after buying an additional 62 shares during the last quarter. Cape Investment Advisory Inc. increased its holdings in QUALCOMM by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 6,537 shares of the wireless technology company’s stock worth $1,107,000 after buying an additional 62 shares in the last quarter. Finally, Tealwood Asset Management Inc. raised its position in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several analyst reports. KeyCorp increased their target price on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. HSBC increased their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Citigroup increased their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Monday. Finally, UBS Group boosted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $194.21.

QUALCOMM Company Profile

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.