Qualcomm (NASDAQ:QCOM) Trading 2% Higher – Here’s Why

Qualcomm Incorporated (NASDAQ:QCOM)’s share price shot up 2% on Wednesday . The stock traded as high as $170.60 and last traded at $169.96. 7,503,944 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 15,647,615 shares. The stock had previously closed at $166.61.

Analyst Ratings Changes

A number of equities analysts have commented on the company. TD Cowen decreased their price target on Qualcomm from $225.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Raymond James Financial started coverage on shares of Qualcomm in a report on Thursday, June 25th. They issued a “strong-buy” rating on the stock. Susquehanna lowered their price target on shares of Qualcomm from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Mizuho increased their price target on shares of Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a research report on Monday, June 29th. Finally, Bank of America raised their price target on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $203.76.

Qualcomm Trading Down 0.8%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. The stock has a market capitalization of $177.04 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 3.54 and a beta of 1.68. The stock has a 50-day moving average price of $169.46 and a two-hundred day moving average price of $169.66.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.69 billion. During the same period in the previous year, the business earned $2.77 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, research analysts forecast that Qualcomm Incorporated will post 7.74 EPS for the current fiscal year.

Qualcomm Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a $0.92 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 annualized dividend and a yield of 2.2%. Qualcomm’s dividend payout ratio (DPR) is 42.59%.

Insider Buying and Selling at Qualcomm

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total value of $408,150.00. Following the sale, the executive vice president directly owned 20,684 shares of the company’s stock, valued at $3,376,869.84. This represents a 10.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president directly owned 36,535 shares of the company’s stock, valued at approximately $5,372,106.40. This trade represents a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,533 shares of company stock valued at $1,961,219. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Qualcomm

A number of hedge funds have recently made changes to their positions in the stock. Your Advocates Ltd. LLP purchased a new stake in shares of Qualcomm in the first quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its stake in Qualcomm by 17,000.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 171 shares of the wireless technology company’s stock valued at $29,000 after purchasing an additional 170 shares during the last quarter. Birchwood Financial Partners Inc. bought a new stake in shares of Qualcomm in the 4th quarter worth $31,000. Commonwealth Retirement Investments LLC bought a new stake in shares of Qualcomm in the 4th quarter worth $32,000. Finally, ABS Investment Management LLC bought a new position in shares of Qualcomm during the second quarter valued at $34,000. 74.35% of the stock is owned by institutional investors.

About Qualcomm

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.