QUALCOMM (NASDAQ:QCOM) Trading Up 0.5% - Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares traded up 0.5% on Thursday . The company traded as high as $145.74 and last traded at $145.03. 2,020,243 shares were traded during mid-day trading, a decline of 77% from the average session volume of 8,859,465 shares. The stock had previously closed at $144.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on QCOM shares. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average target price of $192.08.

QUALCOMM Trading Up 4.8%

The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $167.03 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The business has a 50 day simple moving average of $146.38 and a 200-day simple moving average of $157.41.

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

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.34%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,312 shares of company stock valued at $2,457,779. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently made changes to their positions in QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the first quarter valued at $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares during the last quarter. Finally, CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth about $27,000. Hedge funds and other 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.