Investors Sell QUALCOMM (QCOM) on Strength (QCOM)

Traders sold shares of QUALCOMM, Inc. (NASDAQ:QCOM) on strength during trading on Tuesday. $64.74 million flowed into the stock on the tick-up and $129.85 million flowed out of the stock on the tick-down, for a money net flow of $65.11 million out of the stock. Of all equities tracked, QUALCOMM had the 19th highest net out-flow for the day. QUALCOMM traded up $0.59 for the day and closed at $65.43

A number of research analysts have recently issued reports on QCOM shares. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Mizuho reiterated a “buy” rating and issued a $64.00 price target (down from $75.00) on shares of QUALCOMM in a report on Wednesday, April 18th. Canaccord Genuity reiterated a “buy” rating and issued a $79.00 price target (down from $86.00) on shares of QUALCOMM in a report on Friday, April 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $75.00 price target on shares of QUALCOMM in a report on Tuesday, April 24th. Finally, Summit Insights upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.80.

The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $95.23 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.91 and a beta of 1.57.



QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 25th. The wireless technology company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.30. QUALCOMM had a positive return on equity of 19.06% and a negative net margin of 18.41%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $0.83 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. analysts forecast that QUALCOMM, Inc. will post 3.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 5th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $2.48 dividend on an annualized basis and a yield of 3.79%. QUALCOMM’s dividend payout ratio is currently 65.61%.

QUALCOMM announced that its Board of Directors has approved a share buyback program on Wednesday, May 9th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the wireless technology company to reacquire up to 12.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

In other QUALCOMM news, EVP Alexander H. Rogers sold 828 shares of QUALCOMM stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $63.40, for a total transaction of $52,495.20. Following the completion of the sale, the executive vice president now owns 7,170 shares of the company’s stock, valued at approximately $454,578. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 789 shares of QUALCOMM stock in a transaction dated Wednesday, June 27th. The stock was sold at an average price of $56.55, for a total value of $44,617.95. Following the sale, the executive vice president now directly owns 7,998 shares of the company’s stock, valued at approximately $452,286.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,669 shares of company stock valued at $159,760. 0.24% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. Virtue Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $727,000. Baker Avenue Asset Management LP lifted its holdings in shares of QUALCOMM by 4.6% in the 4th quarter. Baker Avenue Asset Management LP now owns 220,859 shares of the wireless technology company’s stock valued at $14,139,000 after buying an additional 9,621 shares during the period. Kendall Capital Management acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $564,000. Viking Global Investors LP acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $38,725,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $458,000. 77.42% of the stock is owned by institutional investors.

QUALCOMM Company Profile (NASDAQ:QCOM)

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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