QUALCOMM (NASDAQ:QCOM) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of QUALCOMM (NASDAQ:QCOM) from a strong-buy rating to a buy rating in a report issued on Wednesday.

QCOM has been the topic of several other research reports. Robert W. Baird lifted their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Tigress Financial lifted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a buy rating in a report on Friday, June 21st. Susquehanna lifted their price target on QUALCOMM from $205.00 to $250.00 and gave the stock a positive rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $230.00 to $210.00 and set an overweight rating on the stock in a report on Tuesday, September 17th. Finally, DZ Bank upgraded QUALCOMM from a hold rating to a buy rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $211.67.

QUALCOMM Stock Performance

QCOM opened at $168.90 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $188.49 billion, a PE ratio of 22.70, a P/E/G ratio of 1.86 and a beta of 1.28. The firm has a 50 day moving average of $168.00 and a two-hundred day moving average of $182.10. QUALCOMM has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, analysts anticipate that QUALCOMM will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s payout ratio is 45.70%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several institutional investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $873,000. Jones Financial Companies Lllp boosted its position in shares of QUALCOMM by 171.8% in the 4th quarter. Jones Financial Companies Lllp now owns 2,340 shares of the wireless technology company’s stock valued at $338,000 after purchasing an additional 1,479 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of QUALCOMM by 206.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 165,643 shares of the wireless technology company’s stock valued at $23,957,000 after purchasing an additional 111,599 shares during the period. Exencial Wealth Advisors LLC boosted its position in shares of QUALCOMM by 2.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 125,223 shares of the wireless technology company’s stock valued at $18,111,000 after purchasing an additional 2,738 shares during the period. Finally, Pinnacle West Asset Management Inc. boosted its position in shares of QUALCOMM by 5.0% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 5,360 shares of the wireless technology company’s stock valued at $775,000 after purchasing an additional 255 shares during the period. 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.