Insider Selling: Paul E. Jacobs Sells 140,000 Shares of QUALCOMM Stock (QCOM)
QUALCOMM (NASDAQ:QCOM) Chairman Paul E. Jacobs sold 140,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $79.42, for a total value of $11,118,800.00. Following the sale, the chairman now directly owns 30,041 shares of the company’s stock, valued at approximately $2,385,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
QUALCOMM (NASDAQ:QCOM) traded up 0.67% during mid-day trading on Tuesday, hitting $79.73. The stock had a trading volume of 5,872,328 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 $79.63 and a 200-day moving average of $77.11. The company has a market cap of $134.6 billion and a price-to-earnings ratio of 19.87. QUALCOMM also was the target of unusually large options trading on Monday. Stock investors purchased 12,971 put options on the company. This is an increase of 164% compared to the average daily volume of 4,904 put options.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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. Analysts expect that QUALCOMM will post $5.17 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $80.53.
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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