QUALCOMM, Inc. (QCOM) Short Interest Down 14.9% in October

QUALCOMM, Inc. (NASDAQ:QCOM) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 91,824,188 shares, a decline of 14.9% from the October 15th total of 107,920,459 shares. Currently, 6.3% of the company’s shares are sold short. Based on an average daily volume of 15,750,916 shares, the short-interest ratio is presently 5.8 days.

In related news, EVP Alexander H. Rogers sold 1,306 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $67.37, for a total value of $87,985.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 853 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $63.50, for a total value of $54,165.50. Following the completion of the sale, the executive vice president now owns 4,344 shares in the company, valued at $275,844. The disclosure for this sale can be found here. Insiders sold 91,638 shares of company stock worth $6,302,079 over the last quarter. 0.17% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its position in shares of QUALCOMM by 9,686.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock worth $105,000 after purchasing an additional 73,523 shares during the period. Squar Milner Financial Services LLC acquired a new position in shares of QUALCOMM during the second quarter worth approximately $106,000. Sterling Investment Advisors Ltd. raised its position in shares of QUALCOMM by 195.0% during the third quarter. Sterling Investment Advisors Ltd. now owns 1,549 shares of the wireless technology company’s stock worth $112,000 after purchasing an additional 1,024 shares during the period. Kiley Juergens Wealth Management LLC raised its position in shares of QUALCOMM by 1,760.0% during the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock worth $133,000 after purchasing an additional 1,760 shares during the period. Finally, MinichMacGregor Wealth Management LLC raised its position in QUALCOMM by 170.9% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock valued at $134,000 after buying an additional 1,167 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Several analysts recently commented on QCOM shares. Barclays started coverage on QUALCOMM in a report on Thursday, September 13th. They issued an “overweight” rating and a $95.00 target price on the stock. Deutsche Bank reduced their target price on QUALCOMM to $65.00 and set a “hold” rating on the stock in a report on Thursday. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Royal Bank of Canada upped their target price on QUALCOMM to $77.00 and gave the company an “outperform” rating in a report on Friday, September 7th. Finally, Nomura boosted their price target on QUALCOMM from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus target price of $70.86.

Shares of NASDAQ:QCOM opened at $56.72 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.62 and a debt-to-equity ratio of 0.67. QUALCOMM has a twelve month low of $48.56 and a twelve month high of $76.50. The company has a market cap of $92.86 billion, a PE ratio of 17.78, a PEG ratio of 1.96 and a beta of 1.69.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.20. QUALCOMM had a positive return on equity of 19.92% and a negative net margin of 21.40%. The company had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. QUALCOMM’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities analysts predict that QUALCOMM will post 2.8 EPS for the current fiscal year.

QUALCOMM declared that its Board of Directors has authorized a share repurchase program on Thursday, July 26th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to purchase up to 34.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Thursday, December 6th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend is Wednesday, December 5th. QUALCOMM’s payout ratio is 77.74%.

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QUALCOMM Company Profile

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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