QUALCOMM (NASDAQ:QCOM) Shares Down 0.5% – What’s Next?

QUALCOMM Incorporated (NASDAQ:QCOM)’s share price traded down 0.5% during mid-day trading on Tuesday . The stock traded as low as $150.27 and last traded at $152.89. 1,001,051 shares were traded during mid-day trading, a decline of 88% from the average session volume of 8,575,489 shares. The stock had previously closed at $153.61.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QCOM shares. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

The firm’s 50-day moving average is $163.94 and its two-hundred day moving average is $163.74. The stock has a market cap of $167.22 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB raised its stake in QUALCOMM by 11.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 62,271 shares of the wireless technology company’s stock worth $9,565,000 after acquiring an additional 6,239 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $30,000. Fairtree Asset Management Pty Ltd bought a new position in QUALCOMM during the 4th quarter valued at about $1,704,000. DSG Capital Advisors LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $1,601,000. Finally, Chancellor Financial Group WB LP bought a new stake in QUALCOMM during the 4th quarter worth approximately $224,000. 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.