QUALCOMM Incorporated (NASDAQ:QCOM) Short Interest Update

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 16,660,000 shares, a drop of 19.4% from the March 15th total of 20,680,000 shares. Based on an average trading volume of 8,550,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.5% of the shares of the company are short sold.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently made changes to their positions in the business. Te Ahumairangi Investment Management Ltd boosted its stake in QUALCOMM by 60.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company’s stock worth $6,349,000 after purchasing an additional 14,213 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of QUALCOMM by 2.2% in the third quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company’s stock worth $5,901,000 after buying an additional 747 shares in the last quarter. World Investment Advisors LLC grew its holdings in shares of QUALCOMM by 304.0% during the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company’s stock valued at $7,680,000 after buying an additional 33,985 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of QUALCOMM by 620.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company’s stock valued at $9,466,000 after acquiring an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC raised its holdings in QUALCOMM by 4.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company’s stock worth $2,309,000 after acquiring an additional 531 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on QCOM shares. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $201.21.

QUALCOMM Price Performance

QCOM stock opened at $136.54 on Friday. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $230.63. The firm has a 50-day moving average of $153.10 and a 200 day moving average of $160.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market cap of $151.01 billion, a P/E ratio of 14.59, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted 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 return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts forecast that QUALCOMM will post 9.39 EPS for the current year.

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.