Qualcomm Incorporated (NASDAQ:QCOM – Get Free Report) Director Sylvia Acevedo sold 61 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $166.05, for a total transaction of $10,129.05. Following the sale, the director directly owned 9,008 shares of the company’s stock, valued at $1,495,778.40. This represents a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Qualcomm Price Performance
QCOM opened at $165.41 on Monday. The company has a market cap of $176.99 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.61 and a beta of 1.70. Qualcomm Incorporated has a twelve month low of $121.99 and a twelve month high of $259.92. The company has a 50-day moving average price of $178.11 and a 200 day moving average price of $169.52. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.42.
Qualcomm (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The company had revenue of $10.44 billion for the quarter, compared to analysts’ expectations of $10.12 billion. During the same period in the previous year, the firm posted $3.00 EPS. Qualcomm’s revenue was down 8.4% compared to the same quarter last year. Sell-side analysts expect that Qualcomm Incorporated will post 7.16 earnings per share for the current fiscal year.
Qualcomm Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s dividend payout ratio (DPR) is 28.98%.
Analysts Set New Price Targets
Several brokerages recently commented on QCOM. Zacks Research cut Qualcomm from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 15th. Royal Bank Of Canada increased their price objective on Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. The Goldman Sachs Group restated a “neutral” rating on shares of Qualcomm in a report on Thursday. Arete Research raised shares of Qualcomm to a “strong-buy” rating in a research note on Friday, October 16th. Finally, Barclays lowered their target price on shares of Qualcomm from $180.00 to $150.00 and set an “underweight” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Qualcomm presently has a consensus rating of “Hold” and an average price target of $197.55.
Read Our Latest Stock Analysis on Qualcomm
Key Headlines Impacting Qualcomm
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Qualcomm’s fiscal Q4 revenue of $10.44 billion and non-GAAP EPS of $2.17 edged past estimates. Automotive growth and the company’s data-center ambitions offer potential sources of diversification. Article: Is Qualcomm Stock Worth Buying After Mixed Q4 Results?
- Positive Sentiment: A broader market recovery helped lift shares after Thursday’s sharp sell-off, as investors reassessed fears that election-related policy changes could slow data-center investment. Article: Tech executives react to post-midterm AI sell-off
- Positive Sentiment: Alphabet disclosed a $548 million Qualcomm stake, a potentially supportive signal of institutional investor interest. Article: Alphabet discloses Qualcomm stake
- Positive Sentiment: Qualcomm is also set to provide chips and software for SpaceX’s planned terrestrial mobile network, adding a potential opportunity beyond its traditional handset market. Article: SpaceX Qualcomm 5G deal
- Neutral Sentiment: EVP Ann Chaplin sold 1,501 shares under a pre-arranged Rule 10b5-1 plan and retained 27,271 shares; the planned sale may carry limited signaling weight. SEC filing
- Negative Sentiment: Despite the beat, year-over-year revenue and earnings declined, and weak profit guidance, handset softness and rising component costs are weighing on expectations. Analysts have also cut price targets, while concerns about data-center investment and margins remain. Article: Qualcomm beat earnings, but its fastest-growing businesses have a catch
Institutional Trading of Qualcomm
A number of hedge funds have recently bought and sold shares of QCOM. BlackRock Inc. acquired a new position in Qualcomm in the second quarter valued at $17,583,115,000. Bank of New York Mellon Corp purchased a new stake in Qualcomm during the second quarter valued at about $1,523,930,000. Deutsche Bank AG purchased a new stake in Qualcomm during the second quarter valued at about $1,178,349,000. Amundi increased its stake in Qualcomm by 94.1% during the second quarter. Amundi now owns 10,195,741 shares of the wireless technology company’s stock worth $1,884,071,000 after acquiring an additional 4,942,908 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Qualcomm by 22.7% during the second quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company’s stock worth $3,178,872,000 after acquiring an additional 3,179,720 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.
About Qualcomm
Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications.
Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.
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