QUALCOMM (NASDAQ:QCOM) Shares Up 4.2% - Time to Buy?

Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) traded up 4.2% during mid-day trading on Monday . The company traded as high as $154.36 and last traded at $151.34. 2,436,087 shares traded hands during trading, a decline of 73% from the average session volume of 8,889,896 shares. The stock had previously closed at $145.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective 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. Finally, Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $192.08.

QUALCOMM Price Performance

The business's 50 day moving average price is $146.16 and its 200 day moving average price is $157.25. 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 $167.72 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM 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 completion of the transaction, the chief financial officer now directly owns 53,112 shares in the company, valued at approximately $7,423,464.24. The trade was a 5.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock valued at $1,948,379 in the last 90 days. Company insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. Eagle Strategies LLC lifted its stake in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. increased its holdings in QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc grew its holdings in shares of QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its position in shares of QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other 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.