QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.8% – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) rose 0.8% during mid-day trading on Thursday . The stock traded as high as $172.36 and last traded at $171.59. Approximately 993,785 shares traded hands during trading, a decline of 87% from the average daily volume of 7,632,991 shares. The stock had previously closed at $170.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Up 0.0 %

The business has a 50-day simple moving average of $163.13 and a two-hundred day simple moving average of $165.50. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The company has a market capitalization of $190.49 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock worth $7,785,781 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, CoreFirst Bank & Trust purchased a new position in QUALCOMM during the fourth quarter worth $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

About QUALCOMM

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.