QUALCOMM Target of Unusually High Options Trading (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of some unusual options trading on Monday. Stock investors purchased 21,472 put options on the stock. This is an increase of approximately 152% compared to the average daily volume of 8,513 put options.

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

In other news, EVP Alexander H. Rogers sold 470 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the transaction, the executive vice president now owns 3,049 shares of the company’s stock, valued at approximately $174,646.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Derek K. Aberle sold 22,251 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $57.59, for a total value of $1,281,435.09. Following the completion of the transaction, the president now directly owns 28,959 shares of the company’s stock, valued at approximately $1,667,748.81. The disclosure for this sale can be found here. In the last three months, insiders sold 52,101 shares of company stock valued at $2,955,612. Insiders own 0.24% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Israel Discount Bank of New York GFN bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $414,000. Access Financial Services Inc. bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $1,134,000. Vident Investment Advisory LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $1,469,000. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $922,599,000. Finally, Sowell Financial Services LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $759,000. 76.61% of the stock is owned by institutional investors.

QUALCOMM (NASDAQ QCOM) opened at 52.77 on Thursday. QUALCOMM has a 52-week low of $51.05 and a 52-week high of $71.62. The stock’s 50 day moving average price is $55.44 and its 200 day moving average price is $56.02. The stock has a market capitalization of $77.89 billion, a price-to-earnings ratio of 20.21 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $5.37 billion during 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%. QUALCOMM’s revenue was down 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. On average, analysts forecast that QUALCOMM will post $4.16 EPS for the current year.

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

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QUALCOMM Company Profile

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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