Investors Buy QUALCOMM (QCOM) on Weakness

Traders bought shares of QUALCOMM, Inc. (NASDAQ:QCOM) on weakness during trading on Friday. $115.97 million flowed into the stock on the tick-up and $44.96 million flowed out of the stock on the tick-down, for a money net flow of $71.01 million into the stock. Of all equities tracked, QUALCOMM had the 8th highest net in-flow for the day. QUALCOMM traded down ($0.05) for the day and closed at $65.38

Several analysts recently commented on QCOM shares. Zacks Investment Research cut QUALCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Stifel Nicolaus reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Mizuho reaffirmed a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. BMO Capital Markets increased their price target on QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, November 2nd. Finally, Canaccord Genuity increased their price target on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. QUALCOMM has a consensus rating of “Hold” and a consensus target price of $66.06.

The firm has a market cap of $96,380.00, a P/E ratio of 39.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS. analysts anticipate that QUALCOMM, Inc. will post 3.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.49%. QUALCOMM’s dividend payout ratio is presently 138.18%.

In other news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the sale, the executive vice president now owns 12,035 shares of the company’s stock, valued at $824,638.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,989 shares of company stock valued at $4,678,794. Corporate insiders own 0.17% of the company’s stock.

Institutional investors have recently modified their holdings of the company. United Asset Strategies Inc. acquired a new stake in shares of QUALCOMM in the second quarter worth $5,249,000. Conning Inc. boosted its position in shares of QUALCOMM by 16.4% in the third quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock worth $37,293,000 after buying an additional 101,483 shares during the period. Stephens Inc. AR boosted its position in shares of QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock worth $6,377,000 after buying an additional 11,232 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of QUALCOMM by 3.6% in the second quarter. UBS Asset Management Americas Inc. now owns 4,668,570 shares of the wireless technology company’s stock worth $257,798,000 after buying an additional 160,226 shares during the period. Finally, Whittier Trust Co. boosted its position in shares of QUALCOMM by 13.5% in the third quarter. Whittier Trust Co. now owns 47,357 shares of the wireless technology company’s stock worth $2,455,000 after buying an additional 5,624 shares during the period. 76.20% of the stock is owned by institutional investors and hedge funds.

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QUALCOMM Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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