Short Interest in QUALCOMM Declines By 20.2% (QCOM)
Shares of QUALCOMM (NASDAQ:QCOM) were the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 18,296,475 shares, a decline of 20.2% from the April 15th total of 22,931,523 shares, American Banking & Market News reports. Based on an average daily volume of 10,889,206 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.1% of the company’s stock are sold short.
In other QUALCOMM news, EVP Matthew Grob sold 20,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $79.88, for a total transaction of $1,597,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
QCOM has been the subject of a number of recent research reports. Analysts at Deutsche Bank raised their price target on shares of QUALCOMM from $86.00 to $90.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Brean Capital raised their price target on shares of QUALCOMM from $83.00 to $89.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of QUALCOMM from $72.00 to $82.50 in a research note on Thursday, April 24th. They now have a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $78.56.
QUALCOMM (NASDAQ:QCOM) opened at 80.41 on Thursday. QUALCOMM has a 52-week low of $59.02 and a 52-week high of $81.66. The stock’s 50-day moving average is $79.33 and its 200-day moving average is $75.06. The company has a market cap of $135.7 billion and a price-to-earnings ratio of 20.17.
QUALCOMM (NASDAQ:QCOM) last released its earnings data on Wednesday, April 23rd. The company reported $1.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.09. The company had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter last year, the company posted $1.17 earnings per share. QUALCOMM’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that QUALCOMM will post $5.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, June 2nd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.35.
QUALCOMM Incorporated (NASDAQ:QCOM) is engaged in designing and manufacturing of digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies.
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