Alexander H. Rogers (NYSE:ROG), President of QTL & Global Affairs at Qualcomm Inc . (NASDAQ:QCOM), recently reported significant transactions involving the company's common stock. On December 10, 2024, Rogers sold a total of 10,373 shares, amounting to approximately $1.67 million. The sale prices for these transactions ranged from $159.9599 to $160.9718 per share.
Additionally, on December 9, Rogers acquired a total of 22,641 shares through performance stock units that vested earlier in October. These shares were acquired at no cost, following certification by the HR and Compensation Committee.
Rogers also disposed of 11,116 shares on December 9 for tax withholding purposes, with the shares priced at $160.74 each, totaling around $1.79 million. These transactions were executed under a pre-established trading plan, providing a structured approach to managing his holdings in Qualcomm.
In other recent news, Qualcomm reported non-GAAP revenues of $10.2 billion and earnings per share of $2.69. The chipset segment contributed $8.7 billion in revenues, while the licensing segment brought in $1.5 billion. Record revenues of $899 million were reported in the automotive market. Melius Research initiated coverage on the company with a Hold rating and a price target of $180, anticipating slower growth for the company. Despite this, TD Cowen reiterated a Buy rating, highlighting potential growth in the automotive sector and advancements in artificial intelligence. Susquehanna maintained a positive stance on Qualcomm, reducing its price target but expressing confidence in the company's transition to a more diversified semiconductor player. Cantor Fitzgerald, UBS, and Loop Capital all maintained a Neutral rating on Qualcomm shares, recognizing the company's efforts to diversify its revenue streams. These are recent developments from Qualcomm.
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