QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.3%

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report)’s share price was up 1.3% during mid-day trading on Wednesday . The stock traded as high as $173.34 and last traded at $173.20. Approximately 1,527,490 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 8,826,387 shares. The stock had previously closed at $171.04.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. KeyCorp raised their price target on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $119.00 to $132.00 in a research note on Friday, December 8th. Finally, Mizuho raised their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $148.71.

Read Our Latest Research Report on QCOM

QUALCOMM Trading Up 1.3 %

The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market cap of $193.39 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. The business’s fifty day moving average is $159.20 and its two-hundred day moving average is $137.68.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,360 shares of company stock valued at $6,803,208. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently made changes to their positions in QCOM. DHJJ Financial Advisors Ltd. acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. Financial Gravity Asset Management Inc. grew its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. Milestone Investment Advisors LLC bought a new stake in QUALCOMM in the 1st quarter valued at $26,000. Pacifica Partners Inc. lifted its position in QUALCOMM by 150.0% in the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after acquiring an additional 150 shares in the last quarter. Finally, O Dell Group LLC bought a new stake in QUALCOMM in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

(Get Free Report)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

Featured Stories

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.