The stock of QUALCOMM Incorporated (NASDAQ:QCOM) last traded at $115.39, up 0.75% from the previous session.
Data from the available sources indicates that QUALCOMM Incorporated (NASDAQ:QCOM) is covered by 33 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $167.70 and a low of $95.00, we find $140.00. Given the previous closing price of $114.53, this indicates a potential upside of 22.24 percent. QCOM stock price is now -2.37% away from the 50-day moving average and -3.22% away from the 200-day moving average. The market capitalization of the company currently stands at $127.82B.
In total, 10 analysts have assigned it a hold rating, and 17 have given it a buy rating. Brokers who have rated the stock have averaged $137.93 as their price target over the next twelve months.
With the price target maintained at $125, Daiwa Securities recently Downgraded its rating from Buy to Outperform for QUALCOMM Incorporated (NASDAQ: QCOM).
In other news, MARTIN NEIL, SVP, Finance and CAO sold 4,752 shares of the company’s stock on Aug 17. The stock was sold for $523,623 at an average price of $110.19. Upon completion of the transaction, the SVP, Finance and CAO now directly owns 247 shares in the company, valued at $28501.33. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 11, Chief Commercial Officer CATHEY JAMES J sold 1,000 shares of the business’s stock. A total of $114,160 was realized by selling the stock at an average price of $114.16. This leaves the insider owning 6,745 shares of the company worth $0.78 million. Insiders disposed of 487,816 shares of company stock worth roughly $56.29 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QCOM stock. A new stake in QUALCOMM Incorporated shares was purchased by MATRIX CAPITAL MANAGEMENT COMPANY, LP during the first quarter worth $214,731,000. APPALOOSA LP invested $213,462,000 in shares of QCOM during the first quarter. In the first quarter, GREENWOODS ASSET MANAGEMENT HONG KONG LTD. acquired a new stake in QUALCOMM Incorporated valued at approximately $53,516,000. WALLEYE CAPITAL LLC acquired a new stake in QCOM for approximately $52,790,000. AUSTRALIANSUPER PTY LTD purchased a new stake in QCOM valued at around $34,616,000 in the second quarter. In total, there are 3,048 active investors with 74.10% ownership of the company’s stock.
With an opening price of $115.70 on Friday morning, QUALCOMM Incorporated (NASDAQ: QCOM) set off the trading day. During the past 12 months, QUALCOMM Incorporated has had a low of $101.47 and a high of $139.94. As of last week, the company has a debt-to-equity ratio of 0.75, a current ratio of 2.40, and a quick ratio of 1.60. The fifty day moving average price for QCOM is $118.16 and a two-hundred day moving average price translates $119.19 for the stock.
The latest earnings results from QUALCOMM Incorporated (NASDAQ: QCOM) was released for Jun, 2023. The net profit margin was 22.30% and return on equity was 44.60% for QCOM. The company reported revenue of $8.45 billion for the quarter, compared to $10.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.72 percent. For the current quarter, analysts expect QCOM to generate $8.5B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/21/2023. Investors who held shares on 08/31/2023 were paid a $0.80 dividend. On an annualized basis, this represents a $3.20 dividend and a 2.77% percent yield. There was an ex-dividend date of 08/30/2023 for this dividend. In terms of dividend payout ratio, QCOM is presently at 39.60%.
QUALCOMM Incorporated(QCOM) 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, application processing, multimedia, and global positioning system products. The QTL segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000, WCDMA, LTE and/or OFDMA-based 5G standards and their derivatives. The QSI segment invests in early-stage companies in various industries, including 5G, artificial intelligence, automotive, consumer, enterprise, cloud, IoT, and extended reality, and investments, including non-marketable equity securities and, to a lesser extent, marketable equity securities, and convertible debt instruments. It also provides development, and other services and related products to the United States government agencies and their contractors. The company was incorporated in 1985 and is headquartered in San Diego, California.
