Investors Purchase Large Volume of Put Options on QUALCOMM (QCOM)
QUALCOMM (NASDAQ:QCOM) saw unusually large options trading activity on Monday. Investors bought 12,971 put options on the company, AnalystRatingsNetwork.com reports. This represents an increase of approximately 164% compared to the average daily volume of 4,904 put options.
A number of research firms have recently commented on QCOM. Analysts at Morgan Stanley initiated coverage on shares of QUALCOMM in a research note on Wednesday, June 18th. They set an “equal weight” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of QUALCOMM from $85.00 to $90.00 in a research note on Monday, June 16th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of QUALCOMM in a research note on Thursday, June 12th. They now have a $95.00 price target on the stock, up previously from $90.00. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $80.53.
QUALCOMM (NASDAQ:QCOM) traded up 0.27% during mid-day trading on Monday, hitting $79.20. The stock had a trading volume of 6,562,002 shares. QUALCOMM has a 52 week low of $59.02 and a 52 week high of $81.66. The stock has a 50-day moving average of $79.65 and a 200-day moving average of $76.9. The company has a market cap of $133.7 billion and a price-to-earnings ratio of 19.82.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.17 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $5.17 earnings per share for the current fiscal year.
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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