QUALCOMM (NASDAQ:QCOM) Downgraded to “Buy” at StockNews.com

StockNews.com cut shares of QUALCOMM (NASDAQ:QCOM) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

A number of other equities research analysts also recently issued reports on QCOM. KeyCorp boosted their price target on QUALCOMM from $205.00 to $225.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Cantor Fitzgerald reissued a neutral rating and set a $215.00 price target on shares of QUALCOMM in a research report on Thursday, August 1st. Piper Sandler reissued an overweight rating and set a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target on QUALCOMM from $155.00 to $170.00 and gave the company a hold rating in a research report on Thursday, August 1st. Finally, DZ Bank raised QUALCOMM from a hold rating to a buy rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $211.67.

QUALCOMM Stock Performance

QUALCOMM stock opened at $168.90 on Wednesday. The firm has a market capitalization of $188.49 billion, a P/E ratio of 22.70, a PEG ratio of 1.86 and a beta of 1.28. The stock has a fifty day moving average price of $168.00 and a 200 day moving average price of $181.97. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities research analysts anticipate that QUALCOMM will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,245 shares of company stock worth $3,679,407. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently made changes to their positions in QCOM. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Massachusetts Financial Services Co. MA raised its position in shares of QUALCOMM by 1,778.7% during 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 purchasing an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp raised its position in shares of 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 worth $997,210,000 after purchasing an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $238,770,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.