QUALCOMM (NASDAQ:QCOM) Stock Price Up 4.4% - Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price was up 4.4% on Monday . The stock traded as high as $155.84 and last traded at $155.78. Approximately 3,368,803 shares traded hands during trading, a decline of 61% from the average daily volume of 8,715,502 shares. The stock had previously closed at $149.24.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on QCOM shares. Loop Capital cut their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM has an average rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Up 4.5%

The stock's fifty day simple moving average is $143.61 and its 200-day simple moving average is $155.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market cap of $171.18 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business's quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 425,064 shares of company stock valued at $8,381,948 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Inspire Investing LLC raised its position in shares of QUALCOMM by 78.7% in the first quarter. Inspire Investing LLC now owns 34,918 shares of the wireless technology company's stock worth $5,364,000 after buying an additional 15,374 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in QUALCOMM by 44.6% in the first quarter. CBIZ Investment Advisory Services LLC now owns 256 shares of the wireless technology company's stock worth $39,000 after acquiring an additional 79 shares in the last quarter. Modern Wealth Management LLC grew its position in QUALCOMM by 5.3% in the first quarter. Modern Wealth Management LLC now owns 10,936 shares of the wireless technology company's stock worth $1,680,000 after acquiring an additional 555 shares in the last quarter. Strs Ohio purchased a new stake in QUALCOMM during the first quarter valued at about $56,447,000. Finally, GK Wealth Management LLC boosted its position in QUALCOMM by 15.8% during the first quarter. GK Wealth Management LLC now owns 3,464 shares of the wireless technology company's stock valued at $532,000 after buying an additional 472 shares during the period. 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.

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