Qualcomm Incorporated (NASDAQ:QCOM - Get Free Report) Director Sylvia Acevedo sold 61 shares of the stock in a transaction on Friday, November 6th. The shares were sold at an average price of $166.05, for a total value of $10,129.05. Following the completion of the sale, the director owned 9,008 shares of the company's stock, valued at $1,495,778.40. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Qualcomm Trading Up 5.5%
QCOM traded up $8.66 during midday trading on Friday, hitting $165.41. 19,678,727 shares of the company were exchanged, compared to its average volume of 10,479,039. The firm has a market capitalization of $176.63 billion, a P/E ratio of 13.02, a P/E/G ratio of 3.65 and a beta of 1.70. Qualcomm Incorporated has a 1-year low of $121.99 and a 1-year high of $259.92. The firm's 50 day moving average price is $178.11 and its 200-day moving average price is $169.52. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.46.
Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.01. The company had revenue of $10.44 billion during the quarter, compared to analysts' expectations of $10.12 billion. Qualcomm had a return on equity of 38.36% and a net margin of 21.01%. The business's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.00 earnings per share. As a group, equities analysts forecast that Qualcomm Incorporated will post 7.16 EPS for the current fiscal year.
Qualcomm Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Qualcomm's dividend payout ratio is currently 28.98%.
Analyst Ratings Changes
A number of brokerages recently weighed in on QCOM. Arete Research raised shares of Qualcomm to a "strong-buy" rating in a research note on Friday, October 16th. Piper Sandler reaffirmed a "neutral" rating on shares of Qualcomm in a research report on Thursday. TD Cowen decreased their price target on Qualcomm from $200.00 to $185.00 and set a "buy" rating for the company in a report on Thursday. Benchmark dropped their price objective on Qualcomm from $300.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Finally, Sanford C. Bernstein cut their target price on Qualcomm from $165.00 to $155.00 and set a "market perform" rating on the stock in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-one have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $197.55.
Check Out Our Latest Report on QCOM
Institutional Trading of Qualcomm
Several large investors have recently made changes to their positions in QCOM. Cornerstone Advisory LLC grew its holdings in Qualcomm by 7.8% during the third quarter. Cornerstone Advisory LLC now owns 2,259 shares of the wireless technology company's stock worth $416,000 after buying an additional 163 shares in the last quarter. Diversified Trust Co lifted its stake in Qualcomm by 72.1% during the 3rd quarter. Diversified Trust Co now owns 63,701 shares of the wireless technology company's stock valued at $11,723,000 after acquiring an additional 26,679 shares in the last quarter. Vista Capital Partners Inc. purchased a new position in Qualcomm during the 3rd quarter worth $228,000. Compass Capital Management Inc. raised its holdings in shares of Qualcomm by 12.1% in the third quarter. Compass Capital Management Inc. now owns 300,803 shares of the wireless technology company's stock valued at $55,360,000 after purchasing an additional 32,482 shares during the last quarter. Finally, Valmark Advisers Inc. increased its stake in Qualcomm by 4.1% in the 3rd quarter. Valmark Advisers Inc. now owns 3,414 shares of the wireless technology company's stock valued at $628,000 after buying an additional 134 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.
Key Stories 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
Qualcomm Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
