Qualcomm (NASDAQ:QCOM) Trading 1.1% Higher – Here’s What Happened

Qualcomm Incorporated (NASDAQ:QCOM)’s share price was up 1.1% on Monday . The company traded as high as $210.80 and last traded at $203.64. Approximately 21,005,888 shares changed hands during trading, an increase of 39% from the average daily volume of 15,115,739 shares. The stock had previously closed at $201.49.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on QCOM shares. Rosenblatt Securities restated a “buy” rating and set a $190.00 price objective on shares of Qualcomm in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on shares of Qualcomm from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. TD Cowen increased their price target on shares of Qualcomm from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Robert W. Baird set a $300.00 price target on shares of Qualcomm in a research report on Friday, May 1st. Finally, Daiwa Securities Group upgraded shares of Qualcomm from a “neutral” rating to an “outperform” rating and set a $225.00 price target on the stock in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $181.79.

Qualcomm Stock Up 3.5%

The firm has a market capitalization of $213.45 billion, a P/E ratio of 22.01, a P/E/G ratio of 25.22 and a beta of 1.49. The company’s 50-day simple moving average is $149.89 and its two-hundred day simple moving average is $157.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.56 by $0.09. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $2.85 EPS. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, research analysts expect that Qualcomm Incorporated will post 7.99 earnings per share for the current year.

Qualcomm Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.92 per share. This is a boost from Qualcomm’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $3.68 annualized dividend and a dividend yield of 1.8%. Qualcomm’s payout ratio is currently 38.70%.

Qualcomm declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 17th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the wireless technology company to reacquire up to 14.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Qualcomm

In other news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $211.90, for a total transaction of $529,750.00. Following the completion of the transaction, the executive vice president owned 28,184 shares in the company, valued at $5,972,189.60. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 192 shares of Qualcomm stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $172.00, for a total transaction of $33,024.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 18,477 shares of company stock worth $3,268,316. 0.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Qualcomm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC lifted its holdings in Qualcomm by 1.8% during the 1st quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company’s stock valued at $429,000 after buying an additional 59 shares in the last quarter. Greykasell Wealth Strategies Inc. raised its stake in shares of Qualcomm by 1.5% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 4,126 shares of the wireless technology company’s stock worth $686,000 after acquiring an additional 61 shares in the last quarter. Certified Advisory Corp increased its stake in Qualcomm by 0.6% during the 3rd quarter. Certified Advisory Corp now owns 10,085 shares of the wireless technology company’s stock valued at $1,678,000 after purchasing an additional 62 shares in the last quarter. ProVise Management Group LLC increased its stake in Qualcomm by 2.6% during the 3rd quarter. ProVise Management Group LLC now owns 2,560 shares of the wireless technology company’s stock valued at $426,000 after purchasing an additional 64 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its holdings in shares of Qualcomm by 1.0% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 6,401 shares of the wireless technology company’s stock valued at $1,095,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

About Qualcomm

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi?Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.