QUALCOMM (NASDAQ:QCOM) Trading 2.1% Higher – Time to Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) shares were up 2.1% on Friday . The company traded as high as $182.15 and last traded at $180.90. Approximately 9,435,020 shares traded hands during trading, an increase of 9% from the average daily volume of 8,646,752 shares. The stock had previously closed at $177.26.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup upped their target price on QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday. Piper Sandler dropped their price objective on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Arete Research set a $200.00 target price on shares of QUALCOMM in a research note on Tuesday, August 26th. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the stock an “outperform” rating in a research note on Monday, July 28th. Finally, Susquehanna lifted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.95.

QUALCOMM Trading Up 2.1%

The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average is $165.85 and its 200-day moving average is $156.67. The stock has a market capitalization of $195.19 billion, a PE ratio of 17.44, a P/E/G ratio of 2.59 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. QUALCOMM’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the business earned $2.33 EPS. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s dividend payout ratio is currently 34.33%.

Insider Transactions at QUALCOMM

In other news, CAO Patricia Y. Grech sold 273 shares of QUALCOMM stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $161.42, for a total value of $44,067.66. Following the transaction, the chief accounting officer directly owned 404 shares of the company’s stock, valued at $65,213.68. The trade was a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Neil Martin sold 791 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the sale, the chief accounting officer directly owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. This trade represents a 41.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 166,502 shares of company stock valued at $27,472,615. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its position in shares of QUALCOMM by 72.2% in the third quarter. Harbor Capital Advisors Inc. now owns 155 shares of the wireless technology company’s stock worth $26,000 after buying an additional 65 shares during the period. Vermillion & White Wealth Management Group LLC raised its stake in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake 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 valued at $26,000 after purchasing an additional 70 shares during the period. Chung Wu Investment Group LLC acquired a new stake in QUALCOMM during the 2nd quarter valued at $32,000. Finally, Harbor Asset Planning Inc. purchased a new stake in QUALCOMM during the 2nd quarter worth $32,000. 74.35% of the stock is 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.