QUALCOMM (NASDAQ:QCOM) Sets New 52-Week Low - Here's Why

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on QCOM shares. Evercore ISI decreased their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.32.

QUALCOMM Stock Performance

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 $170.41 billion, a P/E ratio of 16.46, a PEG ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average price of $163.66 and a 200 day moving average price of $163.64.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's 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 directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 in the last three months. Insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Strategies LLC raised its stake in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in shares of 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 last quarter. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc boosted its holdings in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in shares of 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 last quarter. 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.