Investors bought shares of QUALCOMM, Inc. (NASDAQ:QCOM) on weakness during trading on Monday. $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 stocks 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
QCOM has been the subject of several recent research reports. Canaccord Genuity boosted their target price on shares of QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, November 13th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Royal Bank of Canada boosted their target price on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Vetr downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating and set a $62.71 target price for the company. in a research report on Monday, November 6th. Finally, Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and boosted their target price for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.06.
The firm has a market capitalization of $96,380.00, a P/E ratio of 39.62, a PEG ratio of 1.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the company posted $1.28 EPS. The business’s revenue was down 3.5% on a year-over-year basis. equities analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.
The firm 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.49%. QUALCOMM’s dividend payout ratio is 138.18%.
In other news, EVP Michelle M. Sterling sold 7,840 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,989 shares of company stock valued at $4,678,794. Corporate insiders own 0.24% of the company’s stock.
Several hedge funds have recently made changes to their positions in QCOM. Vanguard Group Inc. increased its position in shares of QUALCOMM by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after purchasing an additional 1,537,645 shares in the last quarter. FMR LLC increased its position in shares of QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of QUALCOMM by 2.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after purchasing an additional 498,324 shares in the last quarter. Capital International Investors increased its position in shares of QUALCOMM by 41.8% during the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after purchasing an additional 6,322,645 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of QUALCOMM by 2.6% during the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after purchasing an additional 499,531 shares in the last quarter. Institutional investors own 76.23% of the company’s stock.
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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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