QUALCOMM (NASDAQ:QCOM) Trading Down 0.1%

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) traded down 0.1% during mid-day trading on Tuesday . The stock traded as low as $199.40 and last traded at $200.71. 2,863,046 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 9,217,457 shares. The stock had previously closed at $200.84.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. Argus raised their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Wells Fargo & Company lifted their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Robert W. Baird increased their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. HSBC lifted their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Bank of America increased their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.13.

Check Out Our Latest Analysis on QCOM

QUALCOMM Trading Up 0.0 %

The company has a market capitalization of $224.15 billion, a P/E ratio of 26.98, a PEG ratio of 2.59 and a beta of 1.29. The business has a fifty day moving average of $192.98 and a 200-day moving average of $167.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. QUALCOMM’s dividend payout ratio is 45.70%.

Insider Activity

In related news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. increased its position in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM in the fourth quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

(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.

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