Key Points
- Qualcomm EVP Heather Ace sold 3,200 shares for $529,344 at an average price of $165.42, under a pre-arranged Rule 10b5-1 plan. She retained 39,379 shares after the sale.
- Qualcomm’s latest quarter slightly beat earnings and revenue estimates, but revenue declined 8.4% year over year; the article also cites pressure in handset sales and below-expectation guidance.
- Analysts’ consensus rating is Hold, with an average price target of $197.13. Qualcomm announced a quarterly dividend of $0.92 per share, equivalent to a 2.1% yield.
Qualcomm Incorporated (NASDAQ:QCOM - Get Free Report) EVP Heather Ace sold 3,200 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $165.42, for a total value of $529,344.00. Following the transaction, the executive vice president owned 39,379 shares of the company's stock, valued at $6,514,074.18. This trade represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Qualcomm Trading Up 3.7%
NASDAQ:QCOM opened at $171.47 on Tuesday. The stock has a market cap of $183.10 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.90 and a beta of 1.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.28 and a current ratio of 2.02. Qualcomm Incorporated has a 1 year low of $121.99 and a 1 year high of $259.92. The business has a fifty day moving average of $178.25 and a 200-day moving average of $169.60.
Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The wireless technology company reported $2.17 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.01. Qualcomm had a net margin of 31.60% and a return on equity of 31.91%. The business had revenue of $10.44 billion for the quarter, compared to analysts' expectations of $10.12 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The company's revenue was down 8.4% on a year-over-year basis. Equities analysts predict that Qualcomm Incorporated will post 7.16 earnings per share for the current year.
Qualcomm Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Qualcomm's dividend payout ratio is currently 28.98%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Qualcomm during the second quarter worth about $17,583,115,000. Bank of New York Mellon Corp bought a new stake in Qualcomm in the second quarter worth about $1,523,930,000. Deutsche Bank AG bought a new stake in Qualcomm in the second quarter worth about $1,178,349,000. Amundi lifted its holdings in Qualcomm by 94.1% in the 2nd quarter. Amundi now owns 10,195,741 shares of the wireless technology company's stock valued at $1,884,071,000 after acquiring an additional 4,942,908 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Qualcomm by 22.7% in the 2nd quarter. Van ECK Associates Corp now owns 17,202,619 shares of the wireless technology company's stock valued at $3,178,872,000 after acquiring an additional 3,179,720 shares during the last quarter. Institutional investors own 74.35% of the company's stock.
Key Qualcomm News
Here are the key news stories impacting Qualcomm this week:
- Positive Sentiment: Automotive revenue grew 89% to a record $1.99 billion. Qualcomm also expects non-handset revenue to grow by more than 60% in fiscal 2027, supporting hopes that newer businesses can offset smartphone-market weakness. Article
- Positive Sentiment: ETFs made a net $28.3 million purchase of QCOM shares on Nov. 5, with more funds adding shares than reducing their holdings. Article
- Neutral Sentiment: EVP Heather Ace sold 3,200 shares under a pre-arranged Rule 10b5-1 plan, retaining 39,379 shares. The planned nature of the sale makes it a less clear signal about the company’s outlook. SEC filing
- Negative Sentiment: Handset revenue fell 26%, and earnings guidance came in below expectations, renewing concerns about pressure in Qualcomm’s core smartphone business. Article
- Negative Sentiment: Freedom Broker cut its rating from “buy” to “hold” and reduced its price target from $200 to $185, signaling less near-term upside in its view. Rating information
Wall Street Analyst Weigh In
QCOM has been the topic of a number of recent analyst reports. Piper Sandler restated a "neutral" rating on shares of Qualcomm in a research report on Thursday. Sanford C. Bernstein decreased their price objective on shares of Qualcomm from $165.00 to $155.00 and set a "market perform" rating for the company in a report on Monday, November 2nd. Susquehanna decreased their price objective on shares of Qualcomm from $185.00 to $165.00 and set a "neutral" rating for the company in a report on Thursday, November 5th. Barclays lowered their price objective on shares of Qualcomm from $180.00 to $150.00 and set an "underweight" rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group reissued a "neutral" rating on shares of Qualcomm in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty-two have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Qualcomm currently has an average rating of "Hold" and a consensus target price of $197.13.
Read Our Latest Stock Report on QCOM
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.
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