28,433K shares changed hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 251.22% over the normal average daily volume.
Investors are a little more bearish on QUALCOMM Incorporated of late looking at the rise in short interest. The firm saw a rise in short interest from September 29, 2017 to October 13, 2017 of 7.65%. Short shares grew 1,649,937 over that period. With short interest at 23,226,080 and short average daily volume at 6,145,377, days to cover is 4.0 and the percentage of shorted shares was 0.02% on October 13.
QUALCOMM Incorporated (NASDAQ:QCOM) has been the object of insider selling activity recently. Michelle M. Sterling, EVP reported the sale of 4,740 shares. The shares were purchased at an average price of $51.88. Sterling now owns $0 of the stock according to the SEC filing. EVP & President, QTL Alexander H. Rogers disclosed the sale of 384 shares of (QCOM). The shares were sold on August 28th for an average price of $51.72. The EVP & President, QTL now owns $110,319 of the stock per the Form 4 SEC filing.
A few notable investment firms have updated their holdings. Hendershot Investments Inc. trimmed its position by shedding 3,995 shares a decrease of 6.1% in the quarter. Hendershot Investments Inc. controls 61,671 shares valued at $3,197,000. The value of the position overall is down by 11.8%. As of quarter end Finemark National Bank & Trust had bought a total of 1,503 shares growing its holdings by 1.8%. The value of the total investment in QUALCOMM Incorporated went from $4,685,000 to $4,476,000 decreasing 4.5% for the reporting period.
Goelzer Investment Management, Inc. added to its holdings by buying 4,510 shares an increase of 2.3% from 06/30/2017 to 09/30/2017. Goelzer Investment Management, Inc. currently owns 198,277 shares worth $10,279,000. The total value of its holdings decreased 3.9%. Simplex Trading, LLC divested its stake by selling 161,122 shares a decrease of 39.1%. Simplex Trading, LLC now holds 251,292 shares with a value of $13,026,000. The value of the position overall is down by 42.8%.
July 20 investment analysts at Deutsche Bank kept the stock rating at “Hold” and moved down the price target from $62.00 to $60.00. On September 15 the stock rating was upgraded from “Outperform” to “Outperform” in an announcement from Northland Securities.
The company is now down by 6.68% percent from yesterday’s close. QUALCOMM Incorporated recently declared a dividend to be paid on Friday the 15th of December 2017. The dividend will be $0.570 per share for the quarter which is $2.28 annualized. This dividend amount will represent a yield of $4.18. The ex-dividend date is Monday the 28th of August 2017.
The stock last traded at $51.01 just a bit lower than the 50 day moving average of $52.45 and marginally under the 200 day moving average of $54.07. The 50 day moving average went down by -2.75% and the 200 day average went down by -5.66%.
QUALCOMM Incorporated’s P/E ratio is 19.54 and market capitalization is 75.29B. As of the latest earnings report the EPS was $2.61 and is projected to be $4.16 for the current year with 1,476,066,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.90 with next year’s EPS projected to be $3.44.
QUALCOMM Incorporated, launched on August 15, 1991, is involved in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is involved 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. The Business’s segments include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Company also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand, such as certain audio and video codecs, the wireless local area networks (WLAN) 802.11 functionality and volatile and non-volatile memory controllers. Other technologies used by wireless devices that it has developed include operating systems, user interfaces, graphics and camera processing functionality, integrated circuit packaging techniques, sensors and sensor fusion algorithms and application processor architectures..Advertisement