Traders See Bearish Options Activity QUALCOMM, Inc.

 Traders See Bearish Options Activity QUALCOMM, Inc.

In today’s session QUALCOMM, Inc. (QCOM) recorded an unusually high (1,126) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious QCOM decrease. With 1,126 contracts traded and 3414 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: QCOM161118P00066000 closed last at: $1.19 or 13.1% down. About 1.77M shares traded hands. QUALCOMM, Inc. (NASDAQ:QCOM) has risen 33.27% since April 5, 2016 and is uptrending. It has outperformed by 31.32% the S&P500.

QUALCOMM, Inc. (NASDAQ:QCOM) Ratings Coverage

Out of 27 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 17 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 63% are positive. $75 is the highest target while $47 is the lowest. The $65.40 average target is -3.64% below today’s ($67.87) stock price. Qualcomm Inc. has been the topic of 62 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock has “Neutral” rating given by Mizuho on Thursday, January 14. The firm earned “Overweight” rating on Monday, July 27 by Morgan Stanley. Barclays Capital downgraded the stock to “Equal-Weight” rating in Monday, March 28 report. Topeka Capital Markets maintained the stock with “Hold” rating in Thursday, January 28 report. RBC Capital Markets maintained QUALCOMM, Inc. (NASDAQ:QCOM) on Monday, November 23 with “Outperform” rating. Stifel Nicolaus maintained QUALCOMM, Inc. (NASDAQ:QCOM) on Thursday, July 23 with “Buy” rating. The stock has “Outperform” rating given by Cowen & Co on Thursday, July 23. The stock has “Underperform” rating given by BMO Capital Markets on Friday, July 15. The stock has “Buy” rating given by Rosenblatt on Thursday, October 22. The company was upgraded on Friday, September 30 by Mizuho.

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 2016 Q2. 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.
Sterneck Capital Ltd Liability accumulated 64,809 shares or 2.31% of the stock. The Colorado-based Arrowpoint Asset Mgmt Ltd Com has invested 0.3% in QUALCOMM, Inc. (NASDAQ:QCOM). Tillar last reported 1.99% of its portfolio in the stock. Denver Investment Advsr Ltd Co holds 232,533 shares or 0.56% of its portfolio. Eads Heald Investment Counsel holds 0.39% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 10,708 shares. Savings Bank Of Montreal Can accumulated 1.62M shares or 0.1% of the stock. Marble Harbor Counsel Ltd Liability accumulated 0.19% or 14,640 shares. Independent Investors Inc holds 42,600 shares or 1.11% of its portfolio. Haverford last reported 0.02% of its portfolio in the stock. Firsthand Capital Management last reported 55,000 shares in the company. The Washington-based Saturna Corporation has invested 1.39% in QUALCOMM, Inc. (NASDAQ:QCOM). Advisory Services Ltd Liability Corp holds 0.29% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 23,498 shares. Ontario Teachers Pension Plan Board last reported 748,500 shares in the company. Tradewinds Cap Management Ltd Limited Liability Company accumulated 0.07% or 1,704 shares. Regions Financial last reported 1.05 million shares in the company.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 16 selling transactions for $18.10 million net activity. Another trade for 33,000 shares valued at $1.98M was sold by GROB MATTHEW S. $1.23M worth of QUALCOMM, Inc. (NASDAQ:QCOM) was sold by DITTAMORE RAYMOND V on Friday, September 30. ABERLE DEREK K sold $1.31 million worth of stock or 20,874 shares. The insider Rosenberg Donald J sold $503,993. AMON CRISTIANO R had sold 6,887 shares worth $354,751. The insider THOMPSON JAMES H sold $609,379.

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 $98.19 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 19.9 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: “Qualcomm, Inc. Is Buying NXP Semiconductors, NV: What You Need to Know” on October 27, 2016, also Fool.com with their article: “Qualcomm, Inc. Reportedly to Tap Taiwan Semiconductor Mfg. Co. Ltd. for …” published on October 25, 2016, Wsj.com published: “Qualcomm Tops Estimates on Strong Shipments and New Licences” on November 02, 2016. More interesting news about QUALCOMM, Inc. (NASDAQ:QCOM) were released by: Fool.com and their article: “Better Buy: Qualcomm Inc or Texas Instruments Inc?” published on October 10, 2016 as well as Fool.com‘s news article titled: “Better Buy: Micron Technology Inc. vs. Qualcomm Inc” with publication date: October 13, 2016.

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