Investors Buy QUALCOMM (QCOM) on Weakness

Investors purchased shares of QUALCOMM, Inc. (NASDAQ:QCOM) on weakness during trading on Monday. $115.97 million flowed into the stock on the tick-up and $44.96 million flowed out of the stock on the tick-down, for a money net flow of $71.01 million into the stock. Of all companies tracked, QUALCOMM had the 8th highest net in-flow for the day. QUALCOMM traded down ($0.05) for the day and closed at $65.38

A number of research analysts have recently commented on QCOM shares. Canaccord Genuity boosted their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Mizuho restated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research report on Thursday, October 12th. Finally, UBS Group reduced their price target on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $66.64.

The company has a market cap of $100,610.00, a PE ratio of 41.36, a PEG ratio of 1.85 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. analysts predict that QUALCOMM, Inc. will post 3.07 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be given a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.34%. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the sale, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at $824,638.20. The disclosure for this sale can be found here. Insiders sold 72,989 shares of company stock valued at $4,678,794 over the last three months. 0.24% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of QCOM. Ronald Blue & Co. LLC raised its stake in shares of QUALCOMM by 0.5% during the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares during the last quarter. Hollencrest Securities LLC raised its stake in shares of QUALCOMM by 0.9% during the second quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after acquiring an additional 40 shares during the last quarter. Farmers Trust Co. raised its stake in shares of QUALCOMM by 0.9% during the second quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after acquiring an additional 48 shares during the last quarter. FCA Corp TX raised its stake in shares of QUALCOMM by 1.0% during the second quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after acquiring an additional 49 shares during the last quarter. Finally, Meridian Investment Counsel Inc. raised its stake in shares of QUALCOMM by 0.3% during the second quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after acquiring an additional 50 shares during the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.

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QUALCOMM Company Profile

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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