QUALCOMM (NASDAQ:QCOM) Downgraded to "Buy" Rating by StockNews.com

StockNews.com downgraded QUALCOMM (NASDAQ:QCOM) from a "strong-buy" to a "buy" rating. Other brokerages have also provided mixed ratings, with price targets ranging from $160 to $250. QUALCOMM's stock opened at $152.80, with a market cap of $169 billion and a P/E ratio of 16.32. The company reported earnings of $2.86 per share, missing estimates. A quarterly dividend of $0.85 per share will be paid on March 27. Insider transactions revealed significant share sales, and institutional investors hold 74.35% of the stock.

StockNews.com cut shares of QUALCOMM (NASDAQ:QCOM - Free Report) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.

MarketBeat Week in Review – 02/10 - 02/14

Several other brokerages also recently weighed in on QCOM. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Piper Sandler dropped 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $205.32.

Check Out Our Latest Report on QUALCOMM

QUALCOMM Trading Down 0.2 %

3 Reasons to Love This Underperforming Chipmaker

Shares of QUALCOMM stock opened at $152.80 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a market capitalization of $169.00 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The business has a 50 day moving average price of $164.74 and a 200 day moving average price of $164.70.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Sell-side analysts anticipate that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

Qualcomm’s Post-Earnings Dip: A Prime Buying Opportunity?

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.23%. QUALCOMM's payout ratio is 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,555 shares of company stock valued at $5,094,134. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.

About QUALCOMM

(Get Free Report)

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.

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