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

QUALCOMM Incorporated (NASDAQ:QCOM) saw some unusual options trading on Monday. Traders acquired 87,288 call options on the stock. This represents an increase of 49% compared to the typical daily volume of 58,644 call options.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Barclays boosted their target price on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Citigroup boosted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.38.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $174.09 on Wednesday. The stock has a market capitalization of $194.28 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.71 and a beta of 1.28. The firm’s 50-day moving average price is $168.55 and its two-hundred day moving average price is $182.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, equities analysts predict that QUALCOMM will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several large investors have recently made changes to their positions in the business. WFA Asset Management Corp bought a new stake in QUALCOMM during the 1st quarter worth about $27,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new position in QUALCOMM in the 1st quarter worth approximately $37,000. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.