QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.1% - Still a Buy?

Key Points

• QUALCOMM's stock price increased 1.1% to $168.83, with over 6 million shares traded, indicating a decrease in trading volume compared to average levels.
• A recent analysis from Arete Research set a target price of $200.00 for QUALCOMM, while the consensus price target from various analysts is $182.82, reflecting a generally positive outlook.
• QUALCOMM announced a quarterly dividend of $0.89 per share, with a yield of 2.1%, to be paid on December 18, 2023, following their earnings report where they beat expectations.

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price rose 1.1% on Tuesday . The stock traded as high as $169.24 and last traded at $168.83. Approximately 6,149,484 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 8,217,004 shares. The stock had previously closed at $167.04.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QCOM. Arete Research set a $200.00 target price on shares of QUALCOMM in a research note on Tuesday, August 26th. Mizuho dropped their target price on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Arete upgraded shares of QUALCOMM from a "neutral" rating to a "buy" rating and set a $200.00 price target on the stock in a research note on Tuesday, August 26th. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of QUALCOMM in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus price target of $182.82.

QUALCOMM Stock Up 1.1%

The stock's 50-day moving average price is $162.38 and its 200-day moving average price is $154.12. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market cap of $182.17 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 2.38 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its 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 business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. QUALCOMM's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 earnings per share. QUALCOMM has set its Q4 2025 guidance at 2.750-2.950 EPS. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.1%. QUALCOMM's dividend payout ratio is presently 34.33%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 791 shares of the business'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 transaction, the chief accounting officer directly owned 1,106 shares of the company's stock, valued at approximately $171,230.92. The trade was a 41.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Patricia Y. Grech sold 201 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $170.00, for a total value of $34,170.00. Following the transaction, the chief accounting officer owned 203 shares in the company, valued at $34,510. The trade was a 49.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,102 shares of company stock valued at $27,706,855 in the last 90 days. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in shares of QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares during the period. Revolve Wealth Partners LLC raised its holdings in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of QUALCOMM by 35.4% in the first quarter. GAMMA Investing LLC now owns 21,241 shares of the wireless technology company's stock valued at $3,263,000 after buying an additional 5,555 shares in the last quarter. Live Oak Private Wealth LLC grew its holdings in shares of QUALCOMM by 0.6% during the first quarter. Live Oak Private Wealth LLC now owns 50,258 shares of the wireless technology company's stock valued at $7,720,000 after buying an additional 283 shares during the last quarter. Finally, Jmac Enterprises LLC increased its position in shares of QUALCOMM by 42.0% during the first quarter. Jmac Enterprises LLC now owns 4,607 shares of the wireless technology company's stock worth $708,000 after acquiring an additional 1,363 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.