QUALCOMM (NASDAQ:QCOM) Stock Price Down 1.9% – Here’s Why

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) dropped 1.9% on Monday . The stock traded as low as $147.88 and last traded at $149.88. Approximately 1,522,497 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 8,577,823 shares. The stock had previously closed at $152.72.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Down 0.1 %

The stock has a market cap of $168.74 billion, a P/E ratio of 16.29, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50 day moving average price is $164.16 and its 200-day moving average price is $163.82.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last three months. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ARGA Investment Management LP lifted its position in shares of QUALCOMM by 18.8% during the 3rd quarter. ARGA Investment Management LP now owns 6,338 shares of the wireless technology company’s stock valued at $1,078,000 after buying an additional 1,001 shares in the last quarter. Semmax Financial Advisors Inc. lifted its holdings in QUALCOMM by 57.8% during the third quarter. Semmax Financial Advisors Inc. now owns 10,600 shares of the wireless technology company’s stock valued at $1,732,000 after purchasing an additional 3,884 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of QUALCOMM in the third quarter worth approximately $15,657,000. B&L Asset Management LLC purchased a new stake in shares of QUALCOMM in the third quarter worth $632,000. Finally, Kestra Investment Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $775,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM 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, computing, multimedia, and position location products.