QUALCOMM Incorporated (NASDAQ:QCOM) Short Interest Update

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of a significant 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. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 8,470,000 shares, the short-interest ratio is currently 2.2 days.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Susquehanna decreased their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,268 shares of company stock valued at $7,785,781. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors have recently made changes to their positions in the business. Creative Planning raised its holdings in shares of QUALCOMM by 0.5% in the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after buying an additional 2,086 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in QUALCOMM by 0.8% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,992 shares of the wireless technology company’s stock worth $5,100,000 after acquiring an additional 246 shares during the last quarter. Wolff Wiese Magana LLC lifted its position in QUALCOMM by 1.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 16,375 shares of the wireless technology company’s stock worth $2,785,000 after acquiring an additional 184 shares during the period. Paragon Capital Management Inc. grew its stake in QUALCOMM by 64.4% during the 3rd quarter. Paragon Capital Management Inc. now owns 4,280 shares of the wireless technology company’s stock valued at $728,000 after purchasing an additional 1,677 shares during the last quarter. Finally, Twelve Points Wealth Management LLC increased its holdings in shares of QUALCOMM by 2.2% in the third quarter. Twelve Points Wealth Management LLC now owns 13,381 shares of the wireless technology company’s stock valued at $2,275,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.0 %

Shares of QCOM traded up $0.08 during midday trading on Friday, reaching $172.23. 4,685,871 shares of the stock were exchanged, compared to its average volume of 7,928,451. QUALCOMM has a 52 week low of $148.90 and a 52 week high of $230.63. The company’s 50 day moving average is $163.13 and its two-hundred day moving average is $165.49. The company has a market capitalization of $190.49 billion, a P/E ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, sell-side analysts anticipate that QUALCOMM will post 9.19 earnings per share for the current year.

QUALCOMM Dividend Announcement

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

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.