What’s Propelling QUALCOMM, Inc. to Increase So Much?

 What's Propelling QUALCOMM, Inc. to Increase So Much?

In today’s session QUALCOMM, Inc. (QCOM) registered an unusually high (826) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious QCOM increase. With 826 contracts traded and 8694 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: QCOM170120C00077500 closed last at: $0.67 or 36.7% up. About 9.73 million shares traded hands or 4.40% up from the average. QUALCOMM, Inc. (NASDAQ:QCOM) has risen 28.79% since March 1, 2016 and is uptrending. It has outperformed by 19.54% the S&P500.

Analysts await QUALCOMM, Inc. (NASDAQ:QCOM) to report earnings on November, 2 after the close. They expect $0.99 earnings per share, up 25.32% or $0.20 from last year’s $0.79 per share. QCOM’s profit will be $1.43 billion for 16.86 P/E if the $0.99 EPS becomes a reality. After $1.03 actual earnings per share reported by QUALCOMM, Inc. for the previous quarter, Wall Street now forecasts -3.88% negative EPS growth.

QUALCOMM, Inc. (NASDAQ:QCOM) Ratings Coverage

Out of 27 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 16 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 59% are positive. $75 is the highest target while $47 is the lowest. The $65.18 average target is -2.38% below today’s ($66.77) stock price. Qualcomm Inc. has been the topic of 60 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Oppenheimer given on Thursday, July 23. The firm has “Hold” rating given on Thursday, June 9 by Brean Capital. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) earned “Hold” rating by Standpoint Research on Monday, August 24. The firm earned “Neutral” rating on Thursday, July 21 by Mizuho. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, July 21 report. On Thursday, July 21 the stock rating was maintained by Goldman Sachs with “Buy”. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) has “Outperform” rating given on Thursday, July 23 by Cowen & Co. Canaccord Genuity maintained QUALCOMM, Inc. (NASDAQ:QCOM) rating on Thursday, November 5. Canaccord Genuity has “Buy” rating and $65 price target. The rating was maintained by Cowen & Co with “Outperform” on Thursday, November 5. The firm has “Buy” rating given on Friday, September 30 by Mizuho.

Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.20, from 1.16 in 2016Q1. The ratio dropped, as 70 funds sold all QUALCOMM, Inc. shares owned while 519 reduced positions. 104 funds bought stakes while 461 increased positions. They now own 1.10 billion shares or 0.47% less from 1.11 billion shares in 2016Q1.
Jefferies Gp Limited Liability Company, a New York-based fund reported 46,963 shares. Natl Pension has 883,311 shares for 0.42% of their US portfolio. Chilton Cap Limited, a Texas-based fund reported 27,357 shares. Becker Cap Mgmt Incorporated holds 1.6% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 730,638 shares. The South Dakota-based Dorsey & Whitney Ltd Llc has invested 0.53% in QUALCOMM, Inc. (NASDAQ:QCOM). Tower Bridge Advsr has 0% invested in the company for 21,806 shares. Salem Inv Counselors last reported 203,104 shares in the company. Pvg Asset Management reported 42,304 shares or 0% of all its holdings. Moreover, Dynamic Advisors Solutions Ltd Llc has 1.4% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 64,290 shares. Endurance Wealth Mngmt accumulated 4.11% or 408,394 shares. The Oregon-based M Secs Inc has invested 0.21% in QUALCOMM, Inc. (NASDAQ:QCOM). Golub Gru Limited Liability Corporation holds 2.27% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 410,808 shares. Addison Cap owns 32,943 shares or 1.59% of their US portfolio. Pioneer Trust National Bank & Trust N A Or accumulated 22,643 shares or 0.74% of the stock. New York State Teachers Retirement Sys holds 0.4% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 2.84M shares.

Insider Transactions: Since April 13, 2016, the stock had 0 insider buys, and 14 insider sales for $13.68 million net activity. Shares for $354,751 were sold by AMON CRISTIANO R. Shares for $1.69M were sold by GROB MATTHEW S on Wednesday, April 13. On Wednesday, April 13 THOMPSON JAMES H sold $1.81 million worth of the stock or 35,000 shares. $427,000 worth of shares were sold by DITTAMORE RAYMOND V on Friday, July 22. ABERLE DEREK K had sold 20,874 shares worth $1.31 million on Wednesday, August 31. Rosenberg Donald J sold $503,993 worth of stock.

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access . The company has a market cap of $96.27 billion. The Firm is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM) standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. It has a 19.55 P/E ratio. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives).

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