QUALCOMM (NASDAQ:QCOM) Shares Up 5.3% - Time to Buy?

Key Points

• QUALCOMM (NASDAQ:QCOM) shares rose by 5.3% during trading, reaching a new high of $162.39 after previously closing at $153.59, with trading volume up significantly at over 10 million shares.
• Wall Street analysts have mixed ratings for QUALCOMM, with a consensus target price of $182.82 and varying opinions, including one Strong Buy, twelve Buys, ten Holds, and one Sell.
• The company reported quarterly earnings of $2.77 EPS, exceeding analysts' expectations and indicating a 10.4% increase in revenue year-over-year.

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares shot up 5.3% during trading on Monday . The stock traded as high as $162.39 and last traded at $161.78. 10,295,474 shares were traded during mid-day trading, an increase of 25% from the average session volume of 8,268,474 shares. The stock had previously closed at $153.59.

Wall Street Analysts Forecast Growth

Several research firms have commented on QCOM. Piper Sandler lowered their price target on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of QUALCOMM in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $182.82.

QUALCOMM Stock Performance

The stock has a market cap of $174.56 billion, a PE ratio of 15.60, a PEG ratio of 2.24 and a beta of 1.23. The stock has a fifty day simple moving average of $160.39 and a two-hundred day simple moving average of $153.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.QUALCOMM's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 EPS. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 791 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total value of $122,462.62. Following the completion of the transaction, the chief accounting officer owned 1,106 shares in the company, valued at $171,230.92. This represents a 41.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Patricia Y. Grech sold 273 shares of the company's stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $161.42, for a total value of $44,067.66. Following the completion of the transaction, the chief accounting officer directly owned 404 shares in the company, valued at approximately $65,213.68. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,767 shares of company stock worth $26,322,745 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently made changes to their positions in QCOM. Kingstone Capital Partners Texas LLC raised its position in shares of QUALCOMM by 656,661.0% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company's stock valued at $9,360,274,000 after purchasing an additional 58,764,593 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $2,713,603,000. Nuveen LLC acquired a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $529,713,000. Amundi raised its position in shares of QUALCOMM by 38.2% during the 2nd quarter. Amundi now owns 11,533,094 shares of the wireless technology company's stock valued at $1,866,451,000 after acquiring an additional 3,186,524 shares in the last quarter. Finally, Viking Global Investors LP raised its position in shares of QUALCOMM by 120.1% during the 2nd quarter. Viking Global Investors LP now owns 3,152,866 shares of the wireless technology company's stock valued at $502,125,000 after acquiring an additional 1,720,529 shares in the last quarter. 74.35% of the stock is 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.

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