QUALCOMM (NASDAQ:QCOM) Trading 1.3% Higher – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price rose 1.3% during mid-day trading on Monday . The company traded as high as $158.09 and last traded at $154.84. Approximately 1,964,935 shares traded hands during trading, a decline of 78% from the average daily volume of 8,964,035 shares. The stock had previously closed at $152.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QCOM shares. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market capitalization of $177.05 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The firm has a 50 day moving average price of $162.88 and a two-hundred day moving average price of $175.04.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was 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 of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,127 shares of company stock worth $6,710,055. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors have recently made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter worth $30,000. Planning Capital Management Corp raised its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in QUALCOMM in the third quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.