QUALCOMM (NASDAQ:QCOM) Hits New 1-Year Low - Here's What Happened

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The company traded as low as $147.88 and last traded at $149.91, with a volume of 899315 shares trading hands. The stock had previously closed at $152.72.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Benchmark reissued a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Down 9.8 %

The business has a 50-day moving average of $163.33 and a 200-day moving average of $163.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market capitalization of $153.65 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.45%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Strategies LLC increased its stake in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its position in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the period. TBH Global Asset Management LLC raised its stake in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc lifted its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the period. Finally, Toth Financial Advisory Corp grew its holdings in QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

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.