QUALCOMM Incorporated (NASDAQ:QCOM) Receives Average Recommendation of “Moderate Buy” from Analysts

QUALCOMM Incorporated (NASDAQ:QCOM) has received a consensus recommendation of “Moderate Buy” from the thirty research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $205.32.

A number of research firms have issued reports on QCOM. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. State Street Corp lifted its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter valued at $2,721,882,000. Finally, Amundi raised its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.5 %

NASDAQ QCOM opened at $162.10 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock’s 50-day moving average is $164.77 and its 200-day moving average is $165.76. QUALCOMM has a one year low of $149.43 and a one year high of $230.63. The firm has a market cap of $179.28 billion, a P/E ratio of 17.32, a P/E/G ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. QUALCOMM’s payout ratio is presently 36.32%.

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.