QUALCOMM (NASDAQ:QCOM) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a strong-buy rating in a research note published on Friday morning.

QCOM has been the subject of several other research reports. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $165.43 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a 50-day moving average of $164.46 and a 200-day moving average of $165.72. QUALCOMM has a one year low of $149.43 and a one year high of $230.63. The company has a market cap of $182.97 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.03 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities research analysts forecast that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.06%. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently made changes to their positions in the business. Ascent Group LLC increased its holdings in QUALCOMM by 9.4% during the fourth quarter. Ascent Group LLC now owns 10,574 shares of the wireless technology company’s stock valued at $1,624,000 after buying an additional 909 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $329,000. Vermillion Wealth Management Inc. purchased a new stake in shares of QUALCOMM in the 4th quarter worth $144,000. Forum Financial Management LP raised its holdings in QUALCOMM by 20.6% in the 4th quarter. Forum Financial Management LP now owns 7,417 shares of the wireless technology company’s stock worth $1,139,000 after purchasing an additional 1,265 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.