On October 11th, 2023, James J. Cathey, an insider at QUALCOMM Incorporated (NASDAQ:QCOM), sold 1,000 shares of the company’s stock at an average price of $112.28, resulting in a total transaction value of $112,280. Following this transaction, Cathey now possesses 4,745 shares in QUALCOMM with an approximate value of $532,768.60. The sale was disclosed in a document filed with the U.S. Securities and Exchange Commission (SEC), available through the SEC website.
The trading day on Wednesday saw QCOM shares decline by $1.19 to reach $111.12 during mid-day trading. A total of 6,373,672 shares were exchanged compared to the company’s average volume of 7,991,700 shares traded. QUALCOMM Incorporated has a current ratio of 2.42 and a quick ratio of 1.64 while maintaining a debt-to-equity ratio of 0.70.
With regards to its moving averages over the past year, QUALCOMM has displayed a 50-day moving average of $112.49 and a 200-day moving average of $115.69. The stock’s one-year low stands at $101.47 and its one-year high at $139.94. Currently valued at approximately $122.23 billion, QUALCOMM holds a market capitalization that reflects its position within the industry.
QUALCOMM Incorporated is actively engaged in developing and commercializing fundamental technologies for wireless communication worldwide. The company operates through three primary segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). Its QCT segment focuses on supplying integrated circuits and system software based on various technologies such as 3G/4G/5G for applications in wireless voice and data communications.
An assortment of equities analysts recently expressed their views on QCOM. Notably, Wolfe Research initiated coverage of QUALCOMM with an “outperform” rating and a $145.00 price objective on July 19th. Conversely, StockNews.com downgraded QCOM shares from “buy” to “hold” in a research note on October 4th. Morgan Stanley raised their target price for the stock from $125.00 to $129.00 and assigned an “overweight” rating on August 3rd, while JPMorgan Chase & Co. lowered the price target from $159.00 to $148.00 in a research report on the same day. Additionally, Susquehanna reduced their price objective for QUALCOMM from $145.00 to $140.00 and gave the company a “positive” rating on August 3rd.
In conclusion, QUALCOMM Incorporated continues its activities in developing and commercializing technologies pivotal to the wireless industry worldwide. The recent insider transaction by James J. Cathey, along with analyses from various equities analysts, highlights notable market activity around QUALCOMM’s stock performance and growth potential moving forward.
Please note that this article is purely informative and should not be taken as financial advice or recommendations of any kind by OpenAI’s GPT-3 model.
– Yahoo Finance: QUALCOMM Incorporated (QCOM)
– U.S Securities and Exchange Commission (SEC) Website
Qualcomm Incorporated Surpasses Market Expectations with Strong Earnings Performance in Q3 2023
October 12, 2023
In the latest earnings release by Qualcomm Incorporated (NASDAQ:QCOM) on August 2nd, the wireless technology company surpassed market expectations. Qualcomm reported earnings per share (EPS) of $1.40 for the quarter, surpassing the consensus estimate of $1.35 by $0.05.
Moreover, Qualcomm showcased its strong performance with a return on equity of 45.94% and a net margin of 22.33%. The company’s revenue stood at $8.45 billion during the quarter, slightly lower than analysts’ projections of $8.51 billion.
QUALCOMM Incorporated is well-known for its engagement in the development and commercialization of foundational technologies for the wireless industry worldwide. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI).
The QCT segment focuses on developing integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
Large investors have shown their confidence in QUALCOMM Incorporated by either increasing or reducing their stakes in the business. Certified Advisory Corp, for instance, increased its stake in QUALCOMM by 0.7% during the first quarter. Calamos Wealth Management LLC also boosted its holdings by 4.4% in the second quarter.
Other investors like Blue Fin Capital Inc., Sycomore Asset Management, and LMG Wealth Partners LLC have also exhibited their faith in QUALCOMM by adding to their positions in the wireless technology company.
At present, approximately 71.10% of QUALCOMM’s stock is owned by institutional investors and hedge funds.
Going forward, equities analysts anticipate that QUALCOMM Incorporated will post earnings per share of 6.42 for this fiscal year.
In conclusion, QUALCOMM Incorporated has impressed the market with its strong earnings performance, surpassing expectations for the quarter. With its focus on foundational technologies for wireless industries and the confidence of investors, the company is poised to continue its growth in the coming years.
Please note that this article contains information as of October 12, 2023.