Investors purchased shares of Qualcomm Inc. (NASDAQ:QCOM) on weakness during trading on Monday. $67.22 million flowed into the stock on the tick-up and $43.69 million flowed out of the stock on the tick-down, for a money net flow of $23.53 million into the stock. Of all companies tracked, Qualcomm had the 18th highest net in-flow for the day. Qualcomm traded down ($0.03) for the day and closed at $61.71

Several equities research analysts have weighed in on the stock. BMO Capital Markets cut shares of Qualcomm from a “market perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research report on Thursday, July 14th. Wells Fargo & Co. reissued a “buy” rating on shares of Qualcomm in a research report on Saturday, April 23rd. Pacific Crest reissued a “buy” rating and set a $63.00 price target on shares of Qualcomm in a research report on Tuesday, April 19th. Raymond James Financial Inc. reissued a “hold” rating on shares of Qualcomm in a research report on Saturday, April 23rd. Finally, Evercore ISI cut shares of Qualcomm from a “buy” rating to a “hold” rating and dropped their price target for the company from $60.00 to $55.00 in a research report on Friday, July 1st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $61.67.

The firm has a market capitalization of $91.85 billion and a P/E ratio of 18.25. The stock’s 50 day moving average is $57.80 and its 200 day moving average is $52.98.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.19. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the company earned $0.99 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Qualcomm Inc. will post $4.29 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Monday, August 29th.

In related news, EVP Matthew S. Grob sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $55.25, for a total value of $552,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the transaction, the director now directly owns 12,765 shares of the company’s stock, valued at $778,665. The disclosure for this sale can be found here.

Several institutional investors recently made changes to their positions in QCOM. American International Group Inc. raised its position in shares of Qualcomm by 2.7% in the fourth quarter. American International Group Inc. now owns 766,748 shares of the wireless technology company’s stock valued at $38,327,000 after buying an additional 20,262 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Qualcomm by 9.0% in the fourth quarter. BlackRock Advisors LLC now owns 13,542,208 shares of the wireless technology company’s stock valued at $676,907,000 after buying an additional 1,112,807 shares during the last quarter. Employees Retirement System of Texas raised its position in shares of Qualcomm by 59.2% in the fourth quarter. Employees Retirement System of Texas now owns 693,800 shares of the wireless technology company’s stock valued at $34,680,000 after buying an additional 258,000 shares during the last quarter. TrimTabs Asset Management LLC raised its position in shares of Qualcomm by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 35,991 shares of the wireless technology company’s stock valued at $1,799,000 after buying an additional 674 shares during the last quarter. Finally, Foresters Investment Management Company Inc. raised its position in shares of Qualcomm by 13.7% in the fourth quarter. Foresters Investment Management Company Inc. now owns 517,108 shares of the wireless technology company’s stock valued at $25,848,000 after buying an additional 62,500 shares during the last quarter.

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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