Qualcomm (NASDAQ:QCOM) Trading Up 1.1% – Time to Buy?

Qualcomm Incorporated (NASDAQ:QCOM)’s share price shot up 1.1% on Wednesday . The stock traded as high as $166.50 and last traded at $161.91. 8,073,214 shares changed hands during trading, a decline of 50% from the average daily volume of 15,995,854 shares. The stock had previously closed at $160.19.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Argus set a $220.00 price target on Qualcomm in a research note on Friday, May 1st. Barclays restated an “underweight” rating and set a $180.00 price objective on shares of Qualcomm in a report on Thursday, July 30th. Zacks Research upgraded Qualcomm from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Guggenheim set a $200.00 price target on shares of Qualcomm in a research report on Monday, June 22nd. Finally, Bank of America lifted their price target on shares of Qualcomm from $165.00 to $195.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $203.63.

Qualcomm Stock Up 1.1%

The stock has a market cap of $170.04 billion, a P/E ratio of 18.74, a PEG ratio of 15.25 and a beta of 1.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The stock’s fifty day simple moving average is $180.71 and its 200-day simple moving average is $167.93.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). Qualcomm had a net margin of 21.01% and a return on equity of 38.36%. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.69 billion. During the same period in the previous year, the firm earned $2.77 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. On average, research analysts anticipate that Qualcomm Incorporated will post 7.76 earnings per share for the current year.

Qualcomm Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 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 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s payout ratio is presently 42.59%.

Insider Buying and Selling at Qualcomm

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the transaction, the executive vice president owned 20,684 shares in the company, valued at approximately $3,376,869.84. This trade represents a 10.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the sale, the executive vice president directly owned 36,535 shares of the company’s stock, valued at approximately $5,372,106.40. This represents a 8.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,529 shares of company stock valued at $1,991,345. 0.05% of the stock is owned by insiders.

Institutional Trading of Qualcomm

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Qualcomm in the 2nd quarter valued at approximately $17,583,115,000. Norges Bank acquired a new stake in Qualcomm during the 4th quarter valued at $2,591,056,000. Bank of New York Mellon Corp purchased a new stake in shares of Qualcomm in the second quarter valued at $1,523,930,000. Deutsche Bank AG purchased a new stake in shares of Qualcomm in the second quarter valued at $1,178,349,000. Finally, Wellington Management Group LLP boosted its position in shares of Qualcomm by 34.5% in the fourth quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock worth $2,861,301,000 after buying an additional 4,290,622 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi?Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.