Investors Purchase High Volume of Call Options on QUALCOMM (QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the recipient of some unusual options trading on Monday. Stock investors bought 29,356 call options on the company. This is an increase of 153% compared to the average volume of 11,609 call options.

QUALCOMM (QCOM) opened at 52.77 on Thursday. The firm has a 50-day moving average price of $55.08 and a 200 day moving average price of $55.95. QUALCOMM has a one year low of $51.05 and a one year high of $71.62. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 20.21 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. Equities analysts expect that QUALCOMM will post $4.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a $0.57 dividend. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a dividend yield of 4.32%. QUALCOMM’s payout ratio is currently 87.36%.

In other news, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the sale, the executive vice president now directly owns 3,049 shares in the company, valued at approximately $174,646.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 5,509 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,101 shares of company stock worth $2,955,612. Insiders own 0.24% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Doyle Wealth Management bought a new stake in QUALCOMM during the first quarter valued at $17,957,000. Berkshire Asset Management LLC PA increased its stake in QUALCOMM by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 168,062 shares of the wireless technology company’s stock valued at $9,637,000 after buying an additional 4,356 shares during the last quarter. P.R. Herzig & Co. Inc. increased its stake in QUALCOMM by 6.2% in the first quarter. P.R. Herzig & Co. Inc. now owns 35,925 shares of the wireless technology company’s stock valued at $2,060,000 after buying an additional 2,100 shares during the last quarter. Triangle Securities Wealth Management increased its stake in QUALCOMM by 9.2% in the first quarter. Triangle Securities Wealth Management now owns 9,887 shares of the wireless technology company’s stock valued at $567,000 after buying an additional 830 shares during the last quarter. Finally, Access Financial Services Inc. bought a new stake in QUALCOMM during the fourth quarter valued at $1,134,000. Institutional investors own 76.61% of the company’s stock.

QCOM has been the subject of a number of recent analyst reports. Mizuho reiterated a “buy” rating and set a $68.00 target price (down from $75.00) on shares of QUALCOMM in a research report on Saturday, April 22nd. Canaccord Genuity cut their target price on QUALCOMM from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, April 20th. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 target price on shares of QUALCOMM in a research report on Monday, April 17th. Standpoint Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Friday, April 28th. Finally, Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price for the company. in a research report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.96.

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About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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