QUALCOMM (NASDAQ:QCOM) Shares Up 2.8% – Still a Buy?

QUALCOMM Incorporated (NASDAQ:QCOM) was up 2.8% on Monday . The company traded as high as $163.20 and last traded at $162.23. Approximately 2,054,787 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 4,221,835 shares. The stock had previously closed at $157.83.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QCOM shares. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.00.

QUALCOMM Trading Up 1.3 %

The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $177.57 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The business has a 50 day moving average of $160.64 and a 200 day moving average of $171.56.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, research analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of the company. Iowa State Bank raised its holdings in shares of QUALCOMM by 1.0% in the 4th quarter. Iowa State Bank now owns 18,150 shares of the wireless technology company’s stock worth $2,788,000 after purchasing an additional 176 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. CWA Asset Management Group LLC now owns 80,353 shares of the wireless technology company’s stock worth $12,344,000 after purchasing an additional 1,265 shares during the period. Pensionfund Sabic raised its holdings in shares of QUALCOMM by 41.7% in the 4th quarter. Pensionfund Sabic now owns 17,000 shares of the wireless technology company’s stock worth $2,612,000 after purchasing an additional 5,000 shares during the period. Nordea Investment Management AB raised its holdings in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 14,312 shares of the wireless technology company’s stock worth $2,199,000 after purchasing an additional 591 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.