QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.7% – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price rose 1.7% during mid-day trading on Thursday . The stock traded as high as $157.51 and last traded at $156.20. Approximately 943,700 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 8,909,033 shares. The stock had previously closed at $153.62.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

QUALCOMM Stock Performance

The firm has a 50 day moving average of $161.18 and a two-hundred day moving average of $172.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a market cap of $170.63 billion, a PE ratio of 17.08, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.85 dividend. The ex-dividend date was Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.21%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lantz Financial LLC purchased a new position in QUALCOMM in the 2nd quarter valued at $234,000. TIAA Trust National Association boosted its holdings in shares of QUALCOMM by 84.5% in the second quarter. TIAA Trust National Association now owns 101,478 shares of the wireless technology company’s stock valued at $20,212,000 after acquiring an additional 46,479 shares in the last quarter. Magnus Financial Group LLC increased its stake in shares of QUALCOMM by 3.4% during the second quarter. Magnus Financial Group LLC now owns 2,534 shares of the wireless technology company’s stock worth $505,000 after acquiring an additional 84 shares during the period. Jackson Creek Investment Advisors LLC raised its holdings in QUALCOMM by 74.9% during the second quarter. Jackson Creek Investment Advisors LLC now owns 3,679 shares of the wireless technology company’s stock worth $733,000 after purchasing an additional 1,575 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in QUALCOMM by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 96,025 shares of the wireless technology company’s stock worth $19,126,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.