Insider Selling: QUALCOMM Chairman Unloads 88,704 Shares of Stock (QCOM)
QUALCOMM (NASDAQ:QCOM) Chairman Paul E. Jacobs sold 88,704 shares of QUALCOMM stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $75.68, for a total transaction of $6,713,118.72. Following the sale, the chairman now directly owns 30,041 shares of the company’s stock, valued at approximately $2,273,503. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of QUALCOMM in a research note on Monday, August 25th. They now have a $81.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of QUALCOMM in a research note on Tuesday, August 19th. Finally, analysts at Sanford C. Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $80.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $81.78.
Shares of QUALCOMM (NASDAQ:QCOM) traded up 0.29% during mid-day trading on Thursday, hitting $75.11. The stock had a trading volume of 8,035,818 shares. QUALCOMM has a 52-week low of $65.47 and a 52-week high of $81.97. The stock’s 50-day moving average is $75.90 and its 200-day moving average is $78.01. The company has a market cap of $125.9 billion and a price-to-earnings ratio of 17.04.
QUALCOMM (NASDAQ:QCOM) last released its earnings data on Wednesday, July 23rd. The company reported $1.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.22. The company had revenue of $6.80 million for the quarter, compared to the consensus estimate of $6.52 million. During the same quarter last year, the company posted $1.03 earnings per share. QUALCOMM’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that QUALCOMM will post $5.32 earnings per share for the current fiscal year.
QUALCOMM Incorporated (NASDAQ:QCOM), is engaged in design, manufacture, have manufactured on its behalf and market digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies.
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