Featured Articles

Apple announces its Apple Watch

Apple announces its Apple Watch

Apple has finally unveiled its eagerly awaited smartwatch and surprisingly it has dropped the "i" from the brand, calling it simply…

More...
Skylake 14nm announced

Skylake 14nm announced

Kirk B. Skaugen, Senior Vice President General Manager, PC Client Group has showcased Skylake, Intel’s second generation 14nm architecture.

More...
Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

The day has finally come and it appears that most rumors were actually spot on as Apple has now officially unveiled…

More...
CEO: Intel on target for 40m tablets

CEO: Intel on target for 40m tablets

Intel CEO Brian Krzanich just kicked off the IDF 2014 keynote and it started with a phone avatar, some Katy Perry…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 09 April 2014 11:30

Qualcomm boss unloads shares

Written by Nick Farrell

Makes $5,686,100 on sale

Qualcomm Chairman Paul Jacobs flogged 70,000 shares of Qualcomm stock and made $5,686,100. Jacobs now owns 29,269 shares in the company, valued at approximately $2,377,521.

According to a legal filing with the Securities & Exchange Commission, the deal went through on Friday. What is a little strange about the deal is that analysts have been getting more optimistic about the company lately. Canaccord Genuity raised their price target on shares of Qualcomm from $86 to $90. Jefferies raised its price target $86 to $95 and  Deutsche Bank raised its price target from $78.00 to $86.00. All three are saying that people should buy the stock.

The company issued quarterly earnings data on January 29th and its revenue for the quarter was up 10 per cent on last year. All we can assume is that Jacobs wanted the money in a hurry. (To buy some MediaTek shares? Ed)

It should be pointed out that Jacobs' loyalty cannot be questioned in spite of the sale. He is not just another tech exec, he is the son of Qualcomm co-founder Irwin M. Jacobs. Jeff Jacobs, Paul Jacob's brother, was Qualcomm's CMO for years. 

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments