QUALCOMM (NASDAQ:QCOM) Shares Down 0.8% - Should You Sell?

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) dropped 0.8% on Thursday . The company traded as low as $154.09 and last traded at $156.43. Approximately 1,461,266 shares were traded during trading, a decline of 82% from the average daily volume of 8,325,586 shares. The stock had previously closed at $157.64.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent research reports. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Benchmark reiterated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, November 20th. Finally, Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock 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, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average 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 quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $178.31 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a fifty day moving average of $164.76 and a two-hundred day moving average of $165.03.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. The trade was a 5.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth about $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth about $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

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.