Traders Buy Large Volume of QUALCOMM Put Options (QCOM)

QUALCOMM Incorporated (NASDAQ:QCOM) saw some unusual options trading on Monday. Stock traders acquired 21,472 put options on the stock. This represents an increase of 152% compared to the typical daily volume of 8,513 put options.

Several equities research analysts have recently weighed in on QCOM shares. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research note on Monday, May 1st. J P Morgan Chase & Co lowered their price objective on QUALCOMM from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 2nd. Standpoint Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Friday, April 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Tuesday, May 2nd. Finally, Canaccord Genuity lowered their price objective on QUALCOMM from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $63.96.

In other news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now directly owns 5,855 shares in the company, valued at approximately $324,249.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 52,101 shares of company stock worth $2,955,612. Corporate insiders own 0.17% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. WealthTrust Axiom LLC raised its position 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 position 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 position 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 position 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 position 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. Hedge funds and other institutional investors own 76.61% of the company’s stock.

Shares of QUALCOMM (QCOM) opened at 52.72 on Friday. The firm has a market cap of $77.82 billion, a P/E ratio of 20.19 and a beta of 1.29. The firm has a 50 day moving average price of $54.47 and a 200 day moving average price of $55.60. QUALCOMM has a 1-year low of $51.05 and a 1-year high of $71.62.

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

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