Qualcomm (NASDAQ:QCOM) Director Sylvia Acevedo Sells 61 Shares of Company Stock

Qualcomm Incorporated (NASDAQ:QCOM) Director Sylvia Acevedo sold 61 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $166.05, for a total value of $10,129.05. Following the completion of the transaction, the director directly owned 9,008 shares in the company, valued at approximately $1,495,778.40. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Qualcomm Trading Up 5.5%

QCOM traded up $8.66 during mid-day trading on Friday, hitting $165.41. The stock had a trading volume of 19,678,727 shares, compared to its average volume of 10,479,039. The stock’s fifty day simple moving average is $178.11 and its 200-day simple moving average is $169.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The firm has a market capitalization of $176.63 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 3.65 and a beta of 1.70. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.01. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. During the same period in the prior year, the business earned $3.00 EPS. Qualcomm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, research analysts forecast that Qualcomm Incorporated will post 7.16 EPS for the current fiscal year.

Qualcomm Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm’s payout ratio is 28.98%.

Hedge Funds Weigh In On Qualcomm

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Qualcomm in the second quarter valued at approximately $17,583,115,000. State Street Corp boosted its position in Qualcomm by 1.3% during the 2nd quarter. State Street Corp now owns 52,763,263 shares of the wireless technology company’s stock worth $9,750,123,000 after buying an additional 671,537 shares during the period. Van ECK Associates Corp boosted its position in Qualcomm by 22.7% during the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after buying an additional 3,179,720 shares during the period. Amundi grew its holdings in Qualcomm by 94.1% during the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after acquiring an additional 4,942,908 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Qualcomm during the 2nd quarter worth approximately $1,523,930,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Key Headlines Impacting Qualcomm

Here are the key news stories impacting Qualcomm this week:

• Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
• Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
• Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
• Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
• Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
• Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. Morgan Stanley dropped their target price on Qualcomm from $231.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Piper Sandler restated a “neutral” rating on shares of Qualcomm in a research report on Thursday. Freedom Capital raised shares of Qualcomm from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Robert W. Baird set a $320.00 price target on shares of Qualcomm in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research report on Monday, September 21st. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $197.55.

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.

Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.