QUALCOMM (NASDAQ:QCOM) Trading Down 8.4% on Analyst Downgrade

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 8.4% on Thursday after Susquehanna lowered their price target on the stock from $210.00 to $190.00. Susquehanna currently has a positive rating on the stock. QUALCOMM traded as low as $134.87 and last traded at $135.94. Approximately 8,583,770 shares were traded during trading, a decline of 4% from the average daily volume of 8,904,555 shares. The stock had previously closed at $148.46.

Several other brokerages have also recently commented on QCOM. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, TD Cowen dropped their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average price target of $196.61.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock worth $5,047,052 in the last 90 days. Company insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC increased its holdings in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank purchased a new position in QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi boosted its position in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp boosted its position in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $150.91 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a fifty day moving average of $148.68 and a two-hundred day moving average of $159.06.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.61%. QUALCOMM's dividend payout ratio is 38.03%.

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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