Qualcomm (NASDAQ:QCOM) Stock Price Up 7.3% – Here’s Why

Qualcomm Incorporated (NASDAQ:QCOM) rose 7.3% during trading on Tuesday . The stock traded as high as $163.48 and last traded at $162.67. Approximately 15,342,678 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 16,562,367 shares. The stock had previously closed at $151.57.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. Freedom Capital lowered Qualcomm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Benchmark lowered their price objective on Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Summit Insights raised Qualcomm from a “hold” rating to a “buy” rating in a report on Thursday, April 30th. Raymond James Financial began coverage on shares of Qualcomm in a research report on Thursday, June 25th. They set a “strong-buy” rating on the stock. Finally, DZ Bank raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, twenty-one have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Qualcomm presently has a consensus rating of “Hold” and an average target price of $203.63.

Qualcomm Stock Performance

The stock has a 50 day moving average price of $196.48 and a two-hundred day moving average price of $167.51. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.46. The company has a market cap of $170.80 billion, a price-to-earnings ratio of 18.83 and a beta of 1.65.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). Qualcomm had a return on equity of 38.36% and a net margin of 21.01%.The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.69 billion. During the same quarter in the prior year, the business earned $2.77 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Qualcomm has set its Q4 2026 guidance at 2.050-2.250 EPS. Analysts predict that Qualcomm Incorporated will post 7.89 EPS for the current year.

Qualcomm Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 2.3%. Qualcomm’s dividend payout ratio (DPR) is 42.59%.

Insider Transactions at Qualcomm

In related news, CAO Patricia Y. Grech sold 829 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $201.77, for a total value of $167,267.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president directly owned 36,535 shares in the company, valued at $5,372,106.40. The trade was a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 11,529 shares of company stock worth $2,112,945. 0.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Qualcomm

Several hedge funds have recently bought and sold shares of QCOM. Vanguard Group Inc. grew its holdings in shares of Qualcomm by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 114,144,068 shares of the wireless technology company’s stock valued at $19,524,350,000 after buying an additional 647,076 shares during the period. Geode Capital Management LLC increased its position in shares of Qualcomm by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 28,897,079 shares of the wireless technology company’s stock valued at $4,931,968,000 after buying an additional 3,221,924 shares in the last quarter. Wellington Management Group LLP raised its stake in Qualcomm by 34.5% during the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock worth $2,861,301,000 after buying an additional 4,290,622 shares during the period. Norges Bank bought a new position in Qualcomm during the fourth quarter worth about $2,591,056,000. Finally, Amundi lifted its holdings in Qualcomm by 9.9% during the third quarter. Amundi now owns 12,671,635 shares of the wireless technology company’s stock worth $2,136,486,000 after acquiring an additional 1,138,541 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.