QUALCOMM (NASDAQ:QCOM) Hits New 52-Week Low – Here’s What Happened

QUALCOMM Incorporated (NASDAQ:QCOM) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $120.80 and last traded at $122.51, with a volume of 1648431 shares. The stock had previously closed at $127.46.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Up 2.9 %

The stock has a market cap of $145.03 billion, a P/E ratio of 14.02, a PEG ratio of 2.01 and a beta of 1.28. The stock’s fifty day simple moving average is $161.74 and its 200-day simple moving average is $163.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced 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 net margin of 25.94% and a return on equity of 39.51%. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last three months. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth $29,000. Institutional investors own 74.35% of the company’s stock.

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.