QUALCOMM (NASDAQ:QCOM) Stock Price Up 0.9%

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) shot up 0.9% during trading on Tuesday . The company traded as high as $169.07 and last traded at $167.41. 2,063,508 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 9,229,232 shares. The stock had previously closed at $165.96.

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Friday, August 2nd. Finally, Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $211.67.

QUALCOMM Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The company has a fifty day moving average of $170.36 and a 200 day moving average of $182.06. The firm has a market capitalization of $192.69 billion, a P/E ratio of 22.74, a PEG ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during 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%. Sell-side analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated 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 directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently modified their holdings of QCOM. Matrix Capital Management Company LP bought a new stake in QUALCOMM during the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA raised its holdings in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp boosted its stake in QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in QUALCOMM during the 1st quarter worth approximately $238,770,000. Institutional investors own 74.35% of the company’s stock.

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.