Qualcomm Stock Drops Amid CEO Share Sale Despite Strong Earnings
Qualcomm shares fell 4.2% to $166.75 on Monday despite reporting better-than-expected Q4 earnings of $3.00 per share against a $2.87 estimate. Revenue climbed 10% year-over-year to $11.27 billion, surpassing analyst projections. The decline followed CEO Cristiano Amon's sale of 150,000 shares worth $24.8 million, reducing his stake by 50.12%.
The chipmaker announced a quarterly dividend of $0.89 per share, yielding 2.1% annually with a 72.8% payout ratio. Analysts remain bullish, with Susquehanna setting a $210 price target and Rosenblatt maintaining $225, despite regulatory scrutiny over Qualcomm's $2.4 billion Alphawave Semi acquisition and a new patent lawsuit.