QUALCOMM Incorporated’s Chief Accounting Officer, Patricia Grech, sold 203 shares of the company’s stock on November 7, 2023. This transaction, valued at $35,092.61, occurred at an average price of $172.87 per share. The details of this sale were disclosed in a filing with the Securities and Exchange Commission.
The sale took place as QUALCOMM shares experienced fluctuations in midday trading on November 10, with stock prices increasing by $0.68 to reach $171.57. The trading volume for the day was reported at 10,106,865 shares, surpassing the average volume of 8,762,190 shares.
Investors may find the financial health of QUALCOMM noteworthy. The company has a current ratio of 3.19, a quick ratio of 2.38, and a debt-to-equity ratio of 0.54. Over the past year, shares have fluctuated significantly, with a low of $120.80 and a high of $205.95. QUALCOMM’s market capitalization stands at approximately $183.75 billion, with a price-to-earnings ratio of 16.54.
In its latest earnings report released on November 5, 2023, QUALCOMM reported earnings per share (EPS) of $3.00 for the quarter, exceeding analysts’ expectations of $2.87 by $0.13. Revenue for the quarter reached $11.27 billion, significantly higher than the anticipated $10.74 billion. This performance marks a 10% increase in quarterly revenue compared to the same period last year, where the company recorded an EPS of $2.69. Looking ahead, QUALCOMM has projected its Q1 2026 EPS guidance to be between $3.30 and $3.50.
Analyst Ratings and Institutional Trading
Recent research reports reflect a mixed outlook for QUALCOMM’s stock. Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on August 3, while Cowen maintained a “buy” recommendation in a note issued on November 9. Mizuho raised its target price for QUALCOMM shares from $185.00 to $200.00, categorizing the stock as “outperform.” Similarly, Bank of America increased its price objective from $200.00 to $215.00, also rating it as a “buy.”
According to data from MarketBeat, the stock has received a consensus rating of “Moderate Buy” and an average target price of $190.38. The analysis indicates one strong buy, thirteen buy ratings, nine hold ratings, and one sell rating among analysts.
In addition to individual investors, several hedge funds and institutional investors have recently adjusted their positions in QUALCOMM. Vermillion & White Wealth Management Group LLC increased its holdings by 122.4%, acquiring a total of 169 shares valued at approximately $26,000 after purchasing an additional 93 shares in the last quarter. Harbor Capital Advisors Inc. also expanded its position by 72.2% in the third quarter, now holding 155 shares worth $26,000.
Collectively, institutional investors hold 74.35% of QUALCOMM’s stock, demonstrating significant confidence in the company’s future performance.
QUALCOMM, recognized for its development and commercialization of foundational technologies for the wireless industry, operates through three main segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment focuses on developing integrated circuits and system software for wireless communications and various multimedia applications.
