QUALCOMM Incorporated (NASDAQ:QCOM) Sees Large Decrease in Short Interest

QUALCOMM Incorporated (NASDAQ:QCOM) was the recipient of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 16,620,000 shares, a drop of 12.1% from the January 31st total of 18,900,000 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily volume of 7,980,000 shares, the short-interest ratio is presently 2.1 days.

QUALCOMM Trading Down 0.9 %

QCOM traded down $1.43 during trading on Thursday, hitting $156.21. 2,746,372 shares of the company’s stock were exchanged, compared to its average volume of 8,330,909. QUALCOMM has a 1 year low of $149.43 and a 1 year high of $230.63. The stock has a 50 day moving average price of $164.73 and a 200 day moving average price of $165.29. The firm has a market cap of $172.77 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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 return on equity of 39.51% and a net margin of 25.94%. As a group, analysts expect that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock worth $7,752,423 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently added to or reduced their stakes in the company. Eagle Strategies LLC lifted its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares during the last quarter. Paulson Wealth Management Inc. raised its position in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. Finally, PDS Planning Inc grew its position in shares of QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Susquehanna cut their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.