Some Traders See Unusual Bullish Options Activity in QUALCOMM, Inc.

 Some Traders See Unusual Bullish Options Activity in QUALCOMM, Inc.

In today’s session QUALCOMM, Inc. (QCOM) registered an unusually high (257) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious QCOM increase. With 257 contracts traded and 23734 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: QCOM161216C00060000 closed last at: $8.25 or 3.5% down. About 3.26 million shares traded hands. QUALCOMM, Inc. (NASDAQ:QCOM) has risen 30.25% since April 25, 2016 and is uptrending. It has outperformed by 24.24% the S&P500.

Analysts await QUALCOMM, Inc. (NASDAQ:QCOM) to report earnings on January, 25 after the close. They expect $1.04 EPS, up 22.35% or $0.19 from last year’s $0.85 per share. QCOM’s profit will be $1.54B for 16.13 P/E if the $1.04 EPS becomes a reality. After $1.17 actual EPS reported by QUALCOMM, Inc. for the previous quarter, Wall Street now forecasts -11.11% 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 63 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Thursday, July 23 by Brean Capital. The firm has “Outperform” rating by RBC Capital Markets given on Monday, November 23. The firm earned “Outperform” rating on Thursday, November 5 by RBC Capital Markets. The firm has “Buy” rating by Canaccord Genuity given on Thursday, July 21. The firm has “Positive” rating by Susquehanna given on Wednesday, January 13. The company was maintained on Thursday, July 23 by Oppenheimer. The rating was initiated by CLSA on Tuesday, May 17 with “Outperform”. Argus Research maintained it with “Buy” rating and $70 target price in Thursday, January 14 report. The firm has “Buy” rating by Mizuho given on Friday, September 30. The company was maintained on Friday, February 12 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 increased to 1.08 in Q2 2016. Its up 0.12, from 0.96 in 2016Q1. The ratio increased, 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.
Mirador Prns L P accumulated 5,595 shares or 0.34% of the stock. Glg Limited Company accumulated 0.01% or 1,716 shares. State Treasurer State Of Michigan has 539,295 shares for 0.23% of their US portfolio. Alexandria Lc holds 20,510 shares or 0.2% of its portfolio. Moreover, Broderick Brian C has 0.21% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 9,135 shares. Btim owns 88,657 shares or 0.08% of their US portfolio. Moreover, Bb&T Lc has 0.83% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 1.00M shares. Destination Wealth has invested 1.41% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM). First Quadrant Lp Ca reported 57,900 shares or 0.07% of all its holdings. Saturna Capital Corp last reported 813,315 shares in the company. Moreover, Aberdeen Asset Public Limited Uk has 0.21% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 1.04 million shares. Evergreen Mngmt Ltd last reported 0.07% of its portfolio in the stock. Hanson Doremus Investment last reported 0.01% of its portfolio in the stock. Ivory Management Limited has 0.64% invested in the company for 430,567 shares. Edge Wealth Mgmt Ltd has invested 2.73% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM).

Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 17 sales for $18.33 million net activity. Another trade for 10,000 shares valued at $609,379 was sold by THOMPSON JAMES H. $1.31 million worth of shares were sold by ABERLE DEREK K on Wednesday, August 31. $124,600 worth of QUALCOMM, Inc. (NASDAQ:QCOM) was sold by GROB MATTHEW S on Tuesday, September 6. 7,000 QUALCOMM, Inc. (NASDAQ:QCOM) shares with value of $427,000 were sold by DITTAMORE RAYMOND V. 9,810 QUALCOMM, Inc. (NASDAQ:QCOM) shares with value of $652,618 were sold by STERLING MICHELLE M. Another trade for 8,250 shares valued at $503,993 was sold by Rosenberg Donald J.

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 $99.35 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 17.62 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: Investorplace.com which released: “Monday’s Vital Data: Apple Inc. (AAPL), Facebook Inc (FB) and Qualcomm, Inc …” on November 28, 2016, also Fool.com with their article: “1 Way Qualcomm Inc. Is Leaving Intel Corporation in the Dust” published on November 23, 2016, Profitconfidential.com published: “QCOM Stock: Why Qualcomm Inc. Is Poised for Immense Growth” on November 24, 2016. More interesting news about QUALCOMM, Inc. (NASDAQ:QCOM) were released by: Fool.com and their article: “Better Buy: Qualcomm Inc vs. Broadcom Ltd.” published on November 09, 2016 as well as Seekingalpha.com‘s news article titled: “Big Things To Come For Qualcomm” with publication date: November 21, 2016.

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