QUALCOMM (NASDAQ:QCOM) Trading Down 6.7%

QUALCOMM Incorporated (NASDAQ:QCOM) was down 6.7% during trading on Wednesday . The stock traded as low as $195.03 and last traded at $195.65. Approximately 2,774,695 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 9,082,555 shares. The stock had previously closed at $209.64.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on QCOM shares. UBS Group lifted their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald boosted their price target on QUALCOMM from $190.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Barclays boosted their price target on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.54.

QUALCOMM Trading Down 1.8 %

The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $204.71 and a 200-day simple moving average of $175.08. The firm has a market cap of $209.81 billion, a P/E ratio of 25.37, a P/E/G ratio of 2.33 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,802.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently made changes to their positions in QCOM. Norges Bank purchased a new stake in shares of QUALCOMM during the 4th quarter worth $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM during the 1st quarter worth $1,171,516,000. International Assets Investment Management LLC lifted its stake in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.