On July 5, 2024, Akash Palkhiwala, the Chief Financial Officer and Chief Operating Officer of Qualcomm Inc (QCOM, Financial), sold 3,000 shares of the company at a price of $205.61 per share. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 60,343 shares of Qualcomm Inc.
Qualcomm Inc is a leading developer and innovator of advanced wireless technologies, products, and services. The company is a key player in the development, launch, and expansion of 5G technology, providing chips and related software for mobiles and other wireless devices.
Over the past year, Akash Palkhiwala has sold a total of 19,000 shares and has not made any purchases of the company's stock. This recent transaction is part of a broader trend observed within the company, where there have been 31 insider sells and no insider buys over the past year.
On the valuation front, Qualcomm Inc's shares were trading at $205.61 on the day of the sale, giving the company a market cap of approximately $232.01 billion. The price-earnings ratio of the company stands at 27.94, which is lower than the industry median of 33.135 but higher than the company’s historical median.
The stock is currently considered Significantly Overvalued with a price-to-GF Value ratio of 1.47, based on a GF Value of $139.86. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates.
This insider sale might interest investors tracking insider behaviors, especially in the context of the company's valuation and stock performance trends.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
