Traders Buy QUALCOMM (QCOM) on Weakness

Traders bought shares of QUALCOMM, Inc. (NASDAQ:QCOM) on weakness during trading hours on Wednesday. $145.44 million flowed into the stock on the tick-up and $125.24 million flowed out of the stock on the tick-down, for a money net flow of $20.20 million into the stock. Of all stocks tracked, QUALCOMM had the 18th highest net in-flow for the day. QUALCOMM traded down ($0.23) for the day and closed at $68.02

QCOM has been the topic of a number of recent research reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a report on Monday, November 13th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Canaccord Genuity lifted their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Citigroup lifted their target price on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Standpoint Research cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus target price of $67.14.

The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $100,140.00, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. QUALCOMM’s revenue for the quarter was down 3.5% compared to the same quarter last year. research analysts expect that QUALCOMM, Inc. will post 3.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a yield of 3.35%. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.

In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders sold 72,989 shares of company stock worth $4,678,794 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Westwood Holdings Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter worth about $114,000. Krilogy Financial LLC lifted its position in shares of QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after buying an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new stake in shares of QUALCOMM in the second quarter worth about $141,000. Jacobi Capital Management LLC lifted its position in shares of QUALCOMM by 7.8% in the second quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after buying an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in shares of QUALCOMM by 40.7% in the second quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.

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QUALCOMM Company Profile

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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