QUALCOMM Incorporated (NASDAQ:QCOM) Receives Average Rating of “Moderate Buy” from Brokerages

QUALCOMM Incorporated (NASDAQ:QCOM) has received a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $208.75.

A number of equities analysts have recently commented on QCOM shares. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $171.10 on Friday. The firm’s fifty day moving average price is $168.98 and its two-hundred day moving average price is $182.12. The stock has a market cap of $190.95 billion, a PE ratio of 23.00, a PEG ratio of 1.71 and a beta of 1.28. QUALCOMM has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, equities analysts expect that QUALCOMM will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 in the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter worth approximately $27,000. HWG Holdings LP bought a new position in shares of QUALCOMM in the 2nd quarter worth $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter worth $32,000. Aspect Partners LLC increased its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of QUALCOMM in the 1st quarter worth $37,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.