QUALCOMM (NASDAQ:QCOM) Stock Price Down 4.7% - What's Next?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report)'s stock price traded down 4.7% on Friday . The stock traded as low as $129.25 and last traded at $132.88. 4,353,119 shares were traded during trading, a decline of 49% from the average session volume of 8,617,862 shares. The stock had previously closed at $139.42.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QCOM shares. Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Finally, Evercore ISI reduced 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. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.32.

Remove Ads

QUALCOMM Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $143.47 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.01 and a beta of 1.28. The firm has a fifty day simple moving average of $160.91 and a two-hundred day simple moving average of $162.74.

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

QUALCOMM Announces Dividend

The firm also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in QCOM. Insigneo Advisory Services LLC boosted its stake in QUALCOMM by 30.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 6,246 shares of the wireless technology company's stock worth $1,062,000 after purchasing an additional 1,476 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in QUALCOMM by 10.8% during the third quarter. EP Wealth Advisors LLC now owns 97,961 shares of the wireless technology company's stock worth $16,658,000 after buying an additional 9,562 shares during the last quarter. World Investment Advisors LLC grew its holdings in QUALCOMM by 1,212.6% in the 3rd quarter. World Investment Advisors LLC now owns 146,764 shares of the wireless technology company's stock valued at $24,957,000 after buying an additional 135,583 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of QUALCOMM by 11.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 67,966 shares of the wireless technology company's stock worth $11,558,000 after acquiring an additional 7,033 shares during the last quarter. Finally, Dunhill Financial LLC boosted its position in shares of QUALCOMM by 6.9% during the 3rd quarter. Dunhill Financial LLC now owns 1,526 shares of the wireless technology company's stock valued at $260,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds 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.