Akash J. Palkhiwala, the Chief Financial Officer and Chief Operating Officer of Qualcomm Inc . (NASDAQ:QCOM), a prominent semiconductor company with a market capitalization of $148 billion and currently trading below its InvestingPro Fair Value, recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. On April 9, Palkhiwala executed a series of transactions under a pre-established trading plan, selling a total of 648 shares. The shares were sold at prices ranging from $136.9513 to $144.095 per share, amounting to a total transaction value of $91,441. The company maintains strong fundamentals with a perfect Piotroski Score of 9 and impressive gross margins of 56%. InvestingPro analysis reveals 13 additional key insights about Qualcomm's financial health and market position.
Following these sales, Palkhiwala retains direct ownership of 56,445 shares of Qualcomm. These transactions were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling shares in accordance with insider trading laws. For detailed analysis of Qualcomm's insider transactions and comprehensive financial metrics, access the full Pro Research Report available on InvestingPro.
In other recent news, Qualcomm has been actively pursuing a potential acquisition of the UK-based Alphawave IP Group (LON:IPO). While Qualcomm has expressed interest, the company has not yet committed to a formal offer, with a decision deadline set for April 2025. In another development, Qualcomm has initiated a global antitrust campaign against Arm Holdings (NASDAQ:ARM), accusing the company of anticompetitive practices. This legal action involves filings with regulatory bodies across Europe, the US, and Korea. Meanwhile, TD Cowen has maintained its Buy rating on Qualcomm, with a price target of $195, highlighting the company's efforts to diversify beyond its traditional smartphone market into areas like IoT and Automotive. Qualcomm's management has emphasized its strategy to leverage its technology in new high-growth sectors. Additionally, analyst Ming-Chi Kuo from TF International Securities has advised caution regarding the potential impact of semiconductor tariffs under the Trump administration, which could affect companies like Qualcomm. These developments reflect Qualcomm's strategic initiatives and ongoing challenges in the semiconductor industry.
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