QUALCOMM Incorporated (NASDAQ:QCOM) Short Interest Down 19.4% in March

by · The Markets Daily

QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 16,660,000 shares, a drop of 19.4% from the March 15th total of 20,680,000 shares. Based on an average daily trading volume, of 8,550,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.5% of the company’s stock are short sold.

QUALCOMM Trading Down 0.4 %

Shares of QCOM traded down $0.52 during mid-day trading on Monday, reaching $136.14. The stock had a trading volume of 8,123,262 shares, compared to its average volume of 8,874,848. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business’s fifty day moving average is $153.10 and its 200 day moving average is $160.28. QUALCOMM has a 52-week low of $120.80 and a 52-week high of $230.63. The firm has a market cap of $150.57 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. On average, sell-side analysts predict that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $201.21.

View Our Latest Stock Analysis on QCOM

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,666 shares of company stock worth $5,047,052. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter valued at about $27,000. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter worth about $27,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Company Profile

(Get Free Report)

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.

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