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Akash J. Palkhiwala, CFO and COO of Qualcomm Inc . (NASDAQ:QCOM), recently executed a series of stock sales amounting to $119,900. The transactions, conducted under a pre-established Rule 10b5-1 trading plan, involved the sale of common stock at prices ranging from $131.1049 to $134.4596 per share. According to InvestingPro data, the stock is currently trading near its 52-week low of $120.80, with analysis suggesting the shares are undervalued based on their Fair Value assessment.
The sales occurred over two days, with Palkhiwala selling a total of 904 shares. Following these transactions, he retains ownership of 57,093 shares in the company. These transactions were filed with the Securities and Exchange Commission as part of the company's regular reporting requirements. Despite this insider sale, InvestingPro analysis reveals that management has been actively buying back shares, and the company maintains a perfect Piotroski Score of 9, indicating strong financial health. Subscribers can access 13 additional exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Qualcomm Incorporated is considering a potential acquisition of the UK-based Alphawave IP Group. The company has initiated an "offer period" for Alphawave, although it has not yet confirmed any firm offer or specific terms. Meanwhile, Qualcomm has also embarked on a worldwide antitrust campaign against Arm Holdings (NASDAQ:ARM) Plc, accusing the company of anticompetitive practices. These complaints have been filed with several regulatory bodies, including the European Commission and the US Federal Trade Commission.
In another development, TD Cowen has reiterated its Buy rating on Qualcomm, maintaining a price target of $195.00. This comes after meetings with Qualcomm's leadership, where the company's diversification strategy into the Internet of Things and Automotive sectors was highlighted. Despite ongoing disputes over Qualcomm's Technology Licensing segment, TD Cowen expressed confidence in the company's strategic initiatives. Additionally, Qualcomm's legal actions against Arm Holdings are seen by Citi analysts as a possible leverage strategy, with a mediation scheduled for May.
In related news, ARM Holdings (LON:ARM) continues to secure licenses and report record licensing revenue, maintaining a favorable outlook from analysts with a buy rating and a $200 price target. Finally, TF International Securities analyst Ming-Chi Kuo has urged caution regarding semiconductor stocks amid potential tariff impacts under the Trump administration.
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