QUALCOMM (NASDAQ:QCOM) Stock Price Up 1.3% – Should You Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) shares were up 1.3% on Monday . The stock traded as high as $158.09 and last traded at $154.84. Approximately 1,964,935 shares traded hands during trading, a decline of 78% from the average daily volume of 8,964,035 shares. The stock had previously closed at $152.89.

Wall Street Analysts Forecast Growth

Several analysts have commented on QCOM shares. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.00.

QUALCOMM Trading Up 0.7 %

The business has a 50-day moving average price of $162.88 and a 200-day moving average price of $175.04. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $177.05 billion, a P/E ratio of 17.73, a PEG ratio of 2.65 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 5th. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,127 shares of company stock valued at $6,710,055. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its stake in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC increased its position in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

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.