Qualcomm Inc. (NASDAQ:QCOM) finished Thursday with an addition of $1.91 to close at $111.10, an upside of 1.75 percent. An average of 6,477,080 shares of common stock have been traded in the last five days. There was a gain of $3.14 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 8,424,425 shares traded, while the 50-day average volume stands at 8,627,628.
QCOM stock has decreased by -2.36% in the last month. The company shares reached their 1-month lowest point of $105.51 on 09/08/23. With the stock rallying to its 52-week high on 02/01/23, shares of the company touched a low of $101.47 and a high of $139.94 in 52 weeks. It has reached a new high 11 times so far this year and achieved 1.06% or $1.16 in price. In spite of this, the price is down -20.61% from the 52-week high.
Insider Transactions
QCOM stock investors should be aware that Qualcomm Inc. (QCOM) stock had its last reported insider trading activity 16 days ago on Sep 13. In this transaction, the insider spent $3,166,098. Chief Commercial Officer, CATHEY JAMES J, disposed of 1,000 shares at a price of $111.27 on Sep 11. The insider now owns more than $111,270 worth of shares. Prior to that, SVP, Finance and CAO MARTIN NEIL went on to Sale 4,752 shares at $110.19 each on Aug 17. An amount of $523,623 was transacted.
Valuation Metrics
Qualcomm Inc. (QCOM) has a trailing price-to-earnings (P/E) ratio of 14.55. The stock’s beta is 1.25. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.21, the price-to-book (PB) ratio at 5.99, and the price-to-cash flow ratio at 18.06.
The company has a payout ratio of 25.14%. The company’s most recent quarterly dividend payment was $0.80 a share, without any change from last year. Its latest increase dividend $0.05 reported on Thursday March 30 2023.
Financial Health
The quick ratio of Qualcomm Inc. for the three months ended June 29 was 1.64, and the current ratio was 2.42, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.70 and a total debt to equity ratio of 0.75 for the quarter ending June 29. Its gross profit as reported stood at $25.57 billion compared to revenue of $44.2 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Qualcomm Inc.’s return on assets was 17.98%.
Earnings Surprise
For the three-month period that ended June 29, Qualcomm Inc. had $14.53 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $1.8 billion in the quarter, while revenues of $1.7 billion were shrunk -106.88%. The analyst consensus anticipated Qualcomm Inc.’s latest quarter earnings to come in at $1.81 per share, but it turned out to be $1.87, a 3.30% surprise. For the quarter, EBITDA amounted to $2.3 billion. Shareholders own equity worth $1.12 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Qualcomm Inc. (QCOM) price momentum. RSI 9-day as of the close on 28 September was 51.58%, suggesting the stock is Neutral, with historical volatility in this time frame at 21.33%.
As of today, QCOM’s price is $109.62 +2.91% or $3.14 from its 5-day moving average. QCOM is currently trading -1.92% lower than its 20-day SMA and +2.13% higher than its 100-day SMA. However, the stock’s current price level is -10.71% below the SMA50 and -6.68% below the SMA200.
The stochastic %K and %D were 44.42% and 40.54%, respectively, and the average true range (ATR) was 2.73. With the 14-day stochastic at 51.74% and the average true range at 2.82, the RSI (14) stands at 48.65%. The stock has reached 0.14 on the 9-day MACD Oscillator while the 14-day reading was at -0.72.
Analyst Ratings
Daiwa Securities downgraded Qualcomm Inc. (NASDAQ: QCOM) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Qualcomm Inc. (QCOM) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell QCOM, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 6 analysts, while 16 others rate it as a “buy”.
What is QCOM’s price target for the next 12 months?
Analysts predict a range of price targets between $100.00 and $167.70, with a median target of $140.00. Taking a look at these predictions, the average price target given by analysts for Qualcomm Inc. (QCOM) stock is $138.29.
