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

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

A number of other research firms have also recently weighed in on QCOM. UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Susquehanna cut their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

QUALCOMM stock opened at $156.04 on Tuesday. The company has a market cap of $172.58 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM has a one year low of $149.43 and a one year high of $230.63. The business has a fifty day moving average of $164.68 and a two-hundred day moving average of $165.23. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced 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%. As a group, analysts predict that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QCOM. IronOak Wealth LLC. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $284,000. Wood Tarver Financial Group LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $31,000. Castle Rock Wealth Management LLC grew its position in QUALCOMM by 5.1% in the fourth quarter. Castle Rock Wealth Management LLC now owns 9,330 shares of the wireless technology company’s stock valued at $1,433,000 after acquiring an additional 456 shares in the last quarter. Dogwood Wealth Management LLC raised its stake in shares of QUALCOMM by 7.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 4,135 shares of the wireless technology company’s stock valued at $635,000 after purchasing an additional 299 shares during the period. Finally, Siemens Fonds Invest GmbH lifted its position in shares of QUALCOMM by 52.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 67,367 shares of the wireless technology company’s stock worth $10,349,000 after purchasing an additional 23,219 shares in the last quarter. 74.35% of the stock is 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.