Qualcomm (NASDAQ:QCOM) Shares Up 1.5% – Here’s Why

Qualcomm Incorporated (NASDAQ:QCOM)’s share price traded up 1.5% on Friday. The company traded as high as $188.95 and last traded at $184.87. Approximately 10,076,627 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 15,546,704 shares. The stock had previously closed at $182.09.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QCOM. Wells Fargo & Company decreased their price target on Qualcomm from $265.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Piper Sandler assumed coverage on Qualcomm in a research note on Wednesday, September 9th. They set a “neutral” rating and a $190.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Qualcomm in a report on Monday, September 21st. Citigroup reduced their target price on shares of Qualcomm from $198.00 to $175.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, Mizuho increased their target price on shares of Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.10.

Qualcomm Stock Up 1.5%

The stock’s 50-day moving average price is $171.12 and its two-hundred day moving average price is $176.00. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $194.16 billion, a P/E ratio of 21.40, a P/E/G ratio of 3.83 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same period last year, the firm posted $2.77 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. As a group, research analysts expect that Qualcomm Incorporated will post 7.74 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd were paid a $0.92 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 2.0%. Qualcomm’s payout ratio is presently 42.59%.

Insider Transactions at Qualcomm

In other news, CEO Cristiano Amon sold 10,000 shares of the company’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $200.00, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer owned 177,568 shares of the company’s stock, valued at $35,513,600. This represents a 5.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of Qualcomm stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the completion of the sale, the chief accounting officer directly owned 208 shares of the company’s stock, valued at approximately $33,872.80. This trade represents a 75.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,533 shares of company stock worth $5,874,969 over the last quarter. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Qualcomm

Several hedge funds and other institutional investors have recently modified their holdings of the business. Baxter Bros Inc. purchased a new stake in shares of Qualcomm during the second quarter worth $17,844,000. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in shares of Qualcomm in the fourth quarter valued at $13,446,000. SmartHarvest Portfolios LLC purchased a new position in shares of Qualcomm in the fourth quarter valued at $851,000. Harvest Fund Management Co. Ltd raised its stake in shares of Qualcomm by 18.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 115,140 shares of the wireless technology company’s stock valued at $19,694,000 after purchasing an additional 17,928 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Qualcomm during the 2nd quarter valued at $28,068,000. Institutional investors own 74.35% of the company’s stock.

Qualcomm Company Profile

Qualcomm Incorporated (NASDAQ: QCOM) is a technology company headquartered in San Diego, California, that develops wireless communications technologies, semiconductors and related software. Its products support mobile devices, connected computing, automotive systems, industrial equipment and consumer electronics.

Qualcomm’s semiconductor business operates primarily through its Qualcomm CDMA Technologies segment. Its offerings include Snapdragon platforms and systems-on-chip, cellular modems, radio-frequency components, connectivity products, and processors for smartphones, personal computers, extended-reality devices, vehicles and the Internet of Things.