Another big tech executive has been cashing in some options recently.
With his stock hovering near a 52-week high,
chief Irwin Jacobs racked up $11.8 million in stock sales over the past month or so, according to filings with the
Securities and Exchange Commission
The sales came as a raft of Jacobs' options were set to expire in January. The chief of the San Diego wireless tech giant has sold five equal parcels amounting to an aggregate 238,000 shares since late July.
The news comes as Qualcomm has emerged as something of a holdout from this summer's tech selloff. The stock has surged this year as the wireless market that the company serves has heated up even beyond the bullish forecasts of industry fans. Qualcomm controls the technology for the cell-phone industry's fastest-growing standard, known as code division multiple access, or CDMA.
Of course, Jacobs' sales barely put a dent in his massive Qualcomm holding. He controls options on more than 30 million shares.
The circumstances surrounding Jacobs' sale appear at first blush quite different from the situation at tech rival
, whose high-profile CEO has been selling with abandon even as the company's shares plunge.
Cisco shares have retreated more than 30% off January's highs as the company has resumed its cautious stance on information technology spending. That hasn't slowed Cisco chief John Chambers one bit, though. Chambers has managed to
cash out $56.9 million worth of company stock over the past nine months.
On Wednesday, Qualcomm rose 38 cents to $38.32 and Cisco rose 35 cents to $19.32.