QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.2% – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) shares shot up 1.2% on Monday . The stock traded as high as $170.88 and last traded at $169.93. 1,533,165 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 7,834,409 shares. The stock had previously closed at $167.96.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on QCOM shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Finally, Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average price is $162.50 and its two-hundred day moving average price is $165.47. The company has a market cap of $188.34 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,268 shares of company stock valued at $7,276,381 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Planning Capital Management Corp grew its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Company Profile

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.