Qualcomm (NASDAQ:QCOM) Shares Up 1.8% on Analyst Upgrade

Qualcomm Incorporated (NASDAQ:QCOM) traded up 1.8% during mid-day trading on Wednesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $182.17 and last traded at $176.57. Approximately 14,017,174 shares were traded during trading, a decline of 8% from the average daily volume of 15,179,884 shares. The stock had previously closed at $173.53.

A number of other research analysts have also recently commented on QCOM. Rosenblatt Securities decreased their price target on Qualcomm from $235.00 to $205.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Piper Sandler restated a “neutral” rating on shares of Qualcomm in a research report on Thursday, November 5th. TD Cowen cut their target price on Qualcomm from $200.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Qualcomm in a report on Wednesday, September 9th. Finally, Weiss Ratings raised Qualcomm from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $197.13.

Insider Activity

In other news, EVP Akash Palkhiwala sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $175.06, for a total transaction of $437,650.00. Following the completion of the transaction, the executive vice president directly owned 20,799 shares in the company, valued at approximately $3,641,072.94. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 208 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $170.00, for a total value of $35,360.00. 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. In the last quarter, insiders have sold 32,520 shares of company stock valued at $6,101,411. 0.05% of the stock is currently owned by insiders.

More Qualcomm News

Investors following QCOM have been watching these news items:

• Positive Sentiment: Automotive and data-center businesses offer diversification beyond handsets. CEO Cristiano Amon reiterated targets of $5 billion in data-center sales in fiscal 2027 and $15 billion in fiscal 2029, expressing confidence in the plan. Qualcomm CEO on data-center goal
• Neutral Sentiment: Zacks Research raised its rating from “strong sell” to “hold,” a less bearish signal but not a buy recommendation. Zacks Research ratings
• Negative Sentiment: Analysts point to falling earnings estimates and margin pressure, while customer concentration and substantial investment make Qualcomm’s ambitious data-center ramp execution-dependent. These concerns cloud the growth story and valuation case. Data-center execution risks

Hedge Funds Weigh In On Qualcomm

A number of hedge funds have recently bought and sold shares of the company. ABS Investment Management LLC acquired a new position in shares of Qualcomm during the second quarter valued at about $34,000. ABS Direct Equity Fund LLC bought a new position in shares of Qualcomm during the 2nd quarter worth approximately $34,000. Mizuho Securities Co. Ltd. bought a new position in shares of Qualcomm during the 3rd quarter worth approximately $35,000. Team Financial Group LLC purchased a new position in shares of Qualcomm in the 3rd quarter worth approximately $38,000. Finally, Burk Holdings LLC boosted its stake in shares of Qualcomm by 191.7% in the 2nd quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after buying an additional 138 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Qualcomm Price Performance

The stock has a market cap of $184.54 billion, a PE ratio of 13.58, a P/E/G ratio of 2.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.86. The business has a 50 day moving average price of $178.65 and a two-hundred day moving average price of $169.90.

Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The company had revenue of $10.44 billion during the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. Qualcomm’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted $3.00 earnings per share. Research analysts expect that Qualcomm Incorporated will post 6.75 earnings per share for the current fiscal year.

Qualcomm Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $0.92 per share. 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 (DPR) is 28.98%.

About Qualcomm

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.