Traders Buy Large Volume of QUALCOMM Call Options (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) was the target of unusually large options trading activity on Monday. Investors acquired 29,356 call options on the stock. This represents an increase of approximately 153% compared to the typical volume of 11,609 call options.

QCOM has been the subject of a number of research analyst reports. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 target price for the company in a report on Wednesday, June 7th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $61.00 target price (down from $63.00) on shares of QUALCOMM in a research note on Thursday, May 4th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $75.00 target price on shares of QUALCOMM in a research note on Saturday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of QUALCOMM in a research note on Monday, April 17th. Finally, Zacks Investment Research lowered shares of QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th. Two equities 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 assigned a strong buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $63.96.

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

A number of large investors have recently added to or reduced their stakes in the stock. WealthTrust Axiom LLC raised its stake in shares of QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after buying an additional 15 shares in the last quarter. Ronald Blue & Co. LLC raised its stake in shares of QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after buying an additional 18 shares in the last quarter. Liberty Capital Management Inc. raised its stake in shares of QUALCOMM by 0.4% in the first quarter. Liberty Capital Management Inc. now owns 6,797 shares of the wireless technology company’s stock valued at $390,000 after buying an additional 25 shares in the last quarter. Excalibur Management Corp raised its stake in shares of QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after buying an additional 31 shares in the last quarter. Finally, Hollencrest Securities LLC raised its stake in shares of QUALCOMM by 0.9% in the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after buying an additional 40 shares in the last quarter. 76.61% of the stock is owned by institutional investors and hedge funds.

QUALCOMM (NASDAQ:QCOM) opened at 52.77 on Thursday. The company’s 50-day moving average is $55.08 and its 200-day moving average is $55.95. The firm has a market capitalization of $77.89 billion, a P/E ratio of 20.21 and a beta of 1.29. QUALCOMM has a one year low of $51.05 and a one year high of $71.62.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. QUALCOMM’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. Equities analysts forecast 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 given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Monday, August 28th. QUALCOMM’s payout ratio is currently 87.36%.

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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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