Investors Buy Shares of QUALCOMM (QCOM) on Weakness

Traders bought shares of QUALCOMM, Inc. (NASDAQ:QCOM) on weakness during trading hours on Friday. $115.97 million flowed into the stock on the tick-up and $44.96 million flowed out of the stock on the tick-down, for a money net flow of $71.01 million into the stock. Of all stocks tracked, QUALCOMM had the 8th highest net in-flow for the day. QUALCOMM traded down ($0.05) for the day and closed at $65.38

A number of equities analysts have recently commented on QCOM shares. BMO Capital Markets lifted their price objective on QUALCOMM from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, November 2nd. UBS Group upgraded QUALCOMM from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 8th. Royal Bank of Canada lifted their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Canaccord Genuity lifted their price objective on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $66.06.

The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market capitalization of $96,380.00, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 1.86 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share. equities analysts forecast that QUALCOMM, Inc. will post 3.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.49%. QUALCOMM’s payout ratio is 138.18%.

In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at $2,810,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Insiders have sold 72,989 shares of company stock worth $4,678,794 over the last ninety days. Company insiders own 0.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trellis Advisors LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $507,000. Hexavest Inc. raised its stake in shares of QUALCOMM by 12.3% in the fourth quarter. Hexavest Inc. now owns 1,511,279 shares of the wireless technology company’s stock valued at $96,752,000 after acquiring an additional 165,607 shares during the last quarter. Covenant Asset Management LLC raised its stake in shares of QUALCOMM by 5.5% in the fourth quarter. Covenant Asset Management LLC now owns 22,729 shares of the wireless technology company’s stock valued at $1,455,000 after acquiring an additional 1,184 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of QUALCOMM by 0.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 541,210 shares of the wireless technology company’s stock valued at $34,648,000 after acquiring an additional 4,110 shares during the last quarter. Finally, Bristol Advisors LLC raised its stake in shares of QUALCOMM by 246.9% in the fourth quarter. Bristol Advisors LLC now owns 66,600 shares of the wireless technology company’s stock valued at $4,264,000 after acquiring an additional 47,400 shares during the last quarter. 76.20% of the stock is currently owned by institutional investors.

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About QUALCOMM

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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