Investors Buy Shares of QUALCOMM (QCOM) on Weakness

Investors purchased shares of QUALCOMM, Inc. (NASDAQ:QCOM) on weakness during trading on Wednesday. $192.05 million flowed into the stock on the tick-up and $111.60 million flowed out of the stock on the tick-down, for a money net flow of $80.45 million into the stock. Of all stocks tracked, QUALCOMM had the 11th highest net in-flow for the day. QUALCOMM traded down ($0.59) for the day and closed at $63.40

Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of QUALCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Northland Securities reaffirmed a “buy” rating and issued a $75.00 price objective on shares of QUALCOMM in a research note on Thursday, February 1st. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price objective for the company in a research note on Friday, January 26th. Finally, Mizuho reaffirmed a “buy” rating and issued a $75.00 price objective (up previously from $65.00) on shares of QUALCOMM in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $68.25.

The firm has a market capitalization of $93,860.00, a PE ratio of -25.88, a P/E/G ratio of 2.02 and a beta of 1.38. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. research analysts anticipate that QUALCOMM, Inc. will post 2.8 EPS for the current 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 given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s dividend payout ratio is currently -93.06%.

In other news, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now owns 10,403 shares of the company’s stock, valued at $709,484.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 919 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the transaction, the executive vice president now directly owns 11,116 shares of the company’s stock, valued at approximately $714,981.12. The disclosure for this sale can be found here. Insiders have sold 45,506 shares of company stock valued at $2,977,673 in the last ninety days. 0.24% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wrapmanager Inc. bought a new stake in QUALCOMM in the third quarter valued at about $369,000. Conning Inc. increased its stake in QUALCOMM by 16.4% in the third quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after acquiring an additional 101,483 shares during the period. Garde Capital Inc. increased its stake in QUALCOMM by 77.8% in the third quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock valued at $894,000 after acquiring an additional 7,547 shares during the period. Stephens Inc. AR increased its stake in QUALCOMM by 10.8% in the second quarter. Stephens Inc. AR now owns 115,483 shares of the wireless technology company’s stock valued at $6,377,000 after acquiring an additional 11,232 shares during the period. Finally, Ffcm LLC grew its stake in QUALCOMM by 44.7% during the third quarter. Ffcm LLC now owns 101,475 shares of the wireless technology company’s stock worth $5,261,000 after buying an additional 31,326 shares during the last quarter. 75.67% of the stock is currently owned by institutional investors and hedge funds.

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About QUALCOMM

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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