QUALCOMM Incorporated (NASDAQ:QCOM) Receives Average Rating of "Hold" from Analysts

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty-eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $189.88.

A number of equities analysts recently commented on QCOM shares. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.31 on Friday, reaching $148.94. The stock had a trading volume of 6,158,795 shares, compared to its average volume of 8,751,362. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a 50 day simple moving average of $143.88 and a 200 day simple moving average of $155.39. The stock has a market cap of $163.54 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the firm earned $2.44 EPS. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. Equities research analysts expect that QUALCOMM will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.39%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the transaction, the chief financial officer now owns 49,779 shares of the company's stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 425,064 shares of company stock worth $8,381,948. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its position in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after buying an additional 4,955 shares during the period. Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $240,000. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $1,541,000. Purkiss Capital Advisors LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $303,000. Finally, Amundi boosted its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 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.