QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) saw a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 16,620,000 shares, a decline of 12.1% from the January 31st total of 18,900,000 shares. Based on an average trading volume of 7,980,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.5% of the company’s shares are sold short.
Analyst Ratings Changes
A number of brokerages recently weighed in on QCOM. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.
Check Out Our Latest Stock Analysis on QCOM
Insiders Place Their Bets
Institutional Investors Weigh In On QUALCOMM
A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.
QUALCOMM Stock Performance
NASDAQ:QCOM opened at $161.22 on Friday. The stock has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. The company has a 50 day moving average price of $164.76 and a 200 day moving average price of $165.14. QUALCOMM has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Equities research analysts forecast that QUALCOMM will post 9.39 EPS for the current year.
QUALCOMM Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.
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.
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