In a recent transaction, Ann Chaplin, General Counsel and Corporate Secretary at Qualcomm Inc . (NASDAQ:QCOM), a $175 billion market cap semiconductor giant with strong financial health according to InvestingPro metrics, sold shares valued at approximately $409,056. The sale, conducted on December 16, involved 2,587 shares at an average price of $158.12 each. This transaction was part of a pre-established Rule 10b5-1 trading plan adopted earlier this year. The company, which has maintained dividend payments for 22 consecutive years, currently trades at an attractive valuation relative to its near-term earnings growth potential.
Prior to this sale, Chaplin also engaged in multiple exercises of stock options and restricted stock units on December 15. These exercises did not involve any direct monetary exchange, as the shares were acquired at no cost. Following these transactions, Chaplin's total holdings in Qualcomm stand at 19,739 shares. For deeper insights into insider trading patterns and comprehensive financial analysis, including 12 additional ProTips, check out the detailed research report available on InvestingPro.
In other recent news, Qualcomm has been at the center of a high-stakes trial with Arm Ltd over AI chip licensing, potentially impacting the future of artificial intelligence computing. The legal dispute revolves around Qualcomm's use of Arm's intellectual property and its acquisition of chip startup Nuvia in 2021. The company is also undergoing a leadership transition, with Dr. James H. Thompson, the Chief Technology Officer, announcing his retirement and Dr. Baaziz Achour set to take over.
Analysts have offered differing views on Qualcomm's future, with Melius Research initiating coverage with a Hold rating and a price target of $180, citing a projected slowdown in revenue growth. In contrast, TD Cowen maintained a Buy rating and a $200 price target, highlighting the company's diversification plans and advancements in artificial intelligence.
Qualcomm reported non-GAAP revenues of $10.2 billion and earnings per share of $2.69 in its recent financial results. The chipset segment contributed $8.7 billion in revenues, while the licensing segment brought in $1.5 billion. The company has also unveiled a strategy to target a total addressable market of approximately $900 billion by 2030, with significant growth expected in various sectors. These are recent developments from Qualcomm.
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