Qualcomm executive sells shares amid ongoing insider trading trend By Investing.com

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Qualcomm executive sells shares amid ongoing insider trading trend

Published Oct 03, 2023 20:46

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Qualcomm executive sells shares amid ongoing insider trading trend

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Alexander Rogers (NYSE:ROG), President QTL & Global Affairs at Qualcomm (NASDAQ:QCOM) Inc, sold 6,001 shares of the company on Monday. This transaction is the latest in a series of insider sell-offs that have occurred over the past year, during which Rogers has sold a total of 60,054 shares without making any purchases.

Rogers holds a significant role at Qualcomm, overseeing the company's global licensing business and managing relationships with regulators, governments, and customers worldwide. His recent share sell-off could be indicative of his personal investment strategy or his perspective on the company's future prospects.

Qualcomm Inc , a world leader in the development and commercialization of foundational technologies for the wireless industry, offers products and services for mobile devices and infrastructure. The company's portfolio includes semiconductors, system software, and related applications used across various industries such as automotive, computing, IoT, and healthcare.

Within the past year, Qualcomm has witnessed 10 insider sales and no insider purchases, potentially signaling a bearish sentiment within the company's higher ranks. It is crucial to note that insiders may sell shares due to personal reasons unrelated to the company's performance or prospects.

On Monday when Rogers sold his shares, Qualcomm's stock was trading at $110.4 per share, resulting in a market cap of $123.99 billion for the company. The stock's price-earnings ratio stands at 14.43, lower than both the industry median of 23.68 and Qualcomm's historical median price-earnings ratio. This suggests that the stock might be undervalued compared to its peers and its own historical performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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