What’s QUALCOMM, Inc. Upside After Today’s Bearish Options Activity?

 What's QUALCOMM, Inc. Upside After Today's Bearish Options Activity?

In today’s session QUALCOMM, Inc. (QCOM) recorded an unusually high (1,376) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious QCOM decrease. With 1,376 contracts traded and 32544 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: QCOM161021P00065000 closed last at: $0.67 or 11.7% up. About 3.28 million shares traded hands. QUALCOMM, Inc. (NASDAQ:QCOM) has risen 26.13% since March 14, 2016 and is uptrending. It has outperformed by 20.52% 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 $1.46B for 16.51 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. Qualcomm Inc. has been the topic of 61 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Rosenblatt maintained the shares of QCOM in a report on Thursday, January 28 with “Buy” rating. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) earned “Outperform” rating by CLSA on Tuesday, May 17. Argus Research maintained it with “Buy” rating and $73 target price in Thursday, September 29 report. The company was maintained on Thursday, July 21 by RBC Capital Markets. The firm has “Neutral” rating by Mizuho given on Tuesday, September 6. As per Thursday, July 23, the company rating was maintained by Topeka Capital Markets. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) earned “Neutral” rating by JP Morgan on Tuesday, September 8. The rating was maintained by Goldman Sachs on Thursday, July 21 with “Buy”. JP Morgan upgraded the stock to “Overweight” rating in Thursday, December 17 report. On Wednesday, December 16 the stock rating was maintained by Cowen & Co with “Outperform”.

According to Zacks Investment Research, “QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company’s CDMA digital technology. 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. (Company Press Release)”

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.
Moreover, Cullen Frost Bankers Incorporated has 0.12% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 58,706 shares. Guardian Capital Advsrs Lp accumulated 96,686 shares or 0.93% of the stock. Virtu Fincl Limited Liability Com owns 12,991 shares or 0.09% of their US portfolio. Dupont Mgmt reported 143,655 shares or 0.17% of all its holdings. The New York-based D E Shaw And has invested 0.14% in QUALCOMM, Inc. (NASDAQ:QCOM). Fca Corp Tx reported 4,698 shares or 0.13% of all its holdings. New Jersey Better Educational Savings Tru holds 0.25% or 7,000 shares in its portfolio. Noesis Mangement Corp owns 97,040 shares or 2.31% of their US portfolio. Sawgrass Asset Mgmt Llc owns 4,330 shares or 0.01% of their US portfolio. Eaton Vance Mgmt has 0.32% invested in the company for 2.08M shares. Jasper Ridge Prns Limited Partnership holds 0.02% or 4,400 shares in its portfolio. Court Place Llc, a Maryland-based fund reported 23,483 shares. Ahl Partners Llp holds 31,303 shares or 0.09% of its portfolio. Klingenstein Fields & Communication Limited Com has 110,690 shares for 0.28% of their US portfolio. Beaumont Financial Prtn Limited Liability Co holds 0.24% or 27,010 shares in its portfolio.

Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 16 selling transactions for $17.44 million net activity. AMON CRISTIANO R also sold $354,751 worth of QUALCOMM, Inc. (NASDAQ:QCOM) on Tuesday, May 10. Another trade for 22,653 shares valued at $1.40M was made by ABERLE DEREK K on Wednesday, July 27. GROB MATTHEW S sold $948,797 worth of stock. 18,000 shares were sold by DITTAMORE RAYMOND V, worth $1.23M. On Friday, September 9 THOMPSON JAMES H sold $609,379 worth of the stock or 10,000 shares. Rosenberg Donald J sold 8,250 shares worth $503,993.

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 $96.33 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 19.16 P/E ratio. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives).

QCOM Company Profile

QUALCOMM Incorporated, incorporated on August 15, 1991, is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). 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. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Firm also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand, such as certain audio and video codecs, the wireless local area networks (WLAN) 802.11 functionality and volatile and non-volatile memory controllers. Other technologies used by wireless devices that it has developed include operating systems, user interfaces, graphics and camera processing functionality, integrated circuit packaging techniques, sensors and sensor fusion algorithms and application processor architectures.

More notable recent QUALCOMM, Inc. (NASDAQ:QCOM) news were published by: Fool.com which released: “Better Buy: Micron Technology Inc. vs. Qualcomm Inc” on October 13, 2016, also Fool.com with their article: “Better Buy: Qualcomm Inc or Texas Instruments Inc?” published on October 10, 2016, Seekingalpha.com published: “Qualcomm Seems Frustratingly Reactive” on October 14, 2016. More interesting news about QUALCOMM, Inc. (NASDAQ:QCOM) were released by: Fool.com and their article: “Better Buy: Qualcomm Inc. vs. Intel” published on September 22, 2016 as well as Profitconfidential.com‘s news article titled: “QCOM Stock: Why Shares of QUALCOMM, Inc. Spiked 9%” with publication date: October 04, 2016.

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