QUALCOMM (NASDAQ:QCOM) Shares Up 1.5% – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price shot up 1.5% during mid-day trading on Tuesday . The company traded as high as $173.08 and last traded at $172.81. 1,368,171 shares were traded during mid-day trading, a decline of 81% from the average session volume of 7,196,082 shares. The stock had previously closed at $170.24.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company’s fifty day moving average is $161.70 and its 200 day moving average is $166.02. The stock has a market cap of $188.11 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid 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 2.01%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In related news, 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 sale, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,981 shares of company stock valued at $4,000,870. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently made changes to their positions in QCOM. Carmel Capital Partners LLC raised its holdings in QUALCOMM by 6.9% in the fourth quarter. Carmel Capital Partners LLC now owns 16,378 shares of the wireless technology company’s stock valued at $2,516,000 after acquiring an additional 1,064 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in shares of QUALCOMM by 36.8% in the 4th quarter. Washington Trust Advisors Inc. now owns 2,461 shares of the wireless technology company’s stock valued at $378,000 after purchasing an additional 662 shares in the last quarter. Townsend Asset Management Corp NC ADV lifted its position in shares of QUALCOMM by 6.8% during the fourth quarter. Townsend Asset Management Corp NC ADV now owns 72,346 shares of the wireless technology company’s stock worth $11,114,000 after purchasing an additional 4,604 shares during the last quarter. Raymond James Financial Inc. acquired a new position in QUALCOMM in the fourth quarter worth about $527,053,000. Finally, First Business Financial Services Inc. increased its holdings in QUALCOMM by 3.9% in the fourth quarter. First Business Financial Services Inc. now owns 10,172 shares of the wireless technology company’s stock valued at $1,563,000 after buying an additional 381 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other 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.