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QUALCOMM Sees Unusually Large Options Volume (QCOM)

20 April 2017, 09:59 | Jan Cross

QUALCOMM Sees Unusually Large Options Volume (QCOM)

QCOM stock chart

This is a boost from QUALCOMM's previous quarterly dividend of $0.53. KS increased its position in QUALCOMM by 6.7% in the second quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company's stock valued at $111,000 after buying an additional 565 shares during the period. The company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress. Citizens Financial Group Inc RI raised its stake in QUALCOMM by 0.3% in the third quarter. Institutional investors and hedge funds own 79.28% of the company's stock. The firm's revenue was up 3.9% on a year-over-year basis. Given that its average daily volume over the 30 days has been 13.22 million shares a day, this signifies a pretty significant change over the norm. QUALCOMM accounts for 0.9% of Sandy Spring Bank's investment portfolio, making the stock its 21st largest position. Zurich Insurance Group Ltd FI's holdings in QUALCOMM were worth $14,517,000 at the end of the most recent reporting period.

QUALCOMM Incorporated (NASDAQ:QCOM) traded at an unexpectedly high level on 04/13/2017 when the stock experienced a -1.12% loss to a closing price of $52.79. The stock has a market cap of $77.97 billion, a PE ratio of 16.10 and a beta of 1.31.

Corning Incorporated (GLW) closed 11.54% above its 200-day moving average and is -1.08% below another chart threshold, its 50-day moving average.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 25th. Fairbanks Capital Management Inc. now owns 384,334 shares of the wireless technology company's stock worth $26,327,000 after buying an additional 1,354 shares during the last quarter. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%.

Qualcomm has separately refused to pay Apple quarterly rebates due to Apple's participation in an antitrust lawsuit against Qualcomm in South Korea, which has led Apple to seek $1 billion in rebate repayments.

Excluding items, Qualcomm earned $1.34 per share, above the average analysts' estimate of $1.19.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. This represents a $2.28 annualized dividend and a yield of 4.32%. QUALCOMM's payout ratio is 64.63%.

A number of research firms have recently weighed in on QCOM. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $80.00 price target on shares of QUALCOMM in a research note on Wednesday, January 18th. They noted that the move was a valuation call.

In other news, Director Anthony J. Vinciquerra acquired 1,000 shares of QUALCOMM stock in a transaction dated Monday, January 30th. Mizuho restated a buy rating and issued a $75.00 price target on shares of QUALCOMM in a research note on Tuesday, April 11th. The stock presently has a consensus rating of Hold and a consensus target price of $67.01.

In related news, EVP Cristiano R. Amon purchased 18,815 shares of the business's stock in a transaction dated Friday, February 3rd.

Analysts are speculating a 53.44% move, based on the high target price ($81) for the shares that is set to reach in the next 12 months. Following the acquisition, the director now directly owns 1,281 shares of the company's stock, valued at $69,161.19. The stock was purchased at an average cost of $53.99 per share, with a total value of $53,990.00. The disclosure for this purchase can be found here. Insiders sold a total of 84,758 shares of company stock worth $5,693,206 over the last three months.

During today's earnings call, Qualcomm took the time to address each its legal battles directly, and company President Derek Aberle once again refuted the claims made by the FTC and Apple.

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