Qualcomm Inc. (NASDAQ:QCOM) shares hit a new 52-week high on Friday . The company traded as high as $63.70 and last traded at $63.35, with a volume of 3,196,662 shares trading hands. The stock had previously closed at $63.47.

A number of research analysts have recently weighed in on QCOM shares. Morgan Stanley reiterated a “buy” rating on shares of Qualcomm in a report on Wednesday, June 15th. Vetr upgraded Qualcomm from a “hold” rating to a “buy” rating and set a $58.08 price target on the stock in a report on Monday, June 13th. TheStreet upgraded Qualcomm from a “hold” rating to a “buy” rating in a report on Friday, May 27th. Cowen and Company reiterated a “buy” rating and set a $60.00 price target on shares of Qualcomm in a report on Tuesday, May 24th. Finally, KeyCorp reiterated a “buy” rating and set a $59.00 price target on shares of Qualcomm in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.84.

The firm’s 50-day moving average is $61.14 and its 200 day moving average is $54.58. The company has a market capitalization of $93.36 billion and a P/E ratio of 18.552.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st will be issued a $0.53 dividend. The ex-dividend date is Monday, August 29th. This represents a $2.12 annualized dividend and a yield of 3.34%.

In related news, EVP Matthew S. Grob sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $63.25, for a total value of $948,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 33,000 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in Qualcomm by 92.8% in the fourth quarter. Victory Capital Management Inc. now owns 53,492 shares of the wireless technology company’s stock valued at $2,674,000 after buying an additional 25,752 shares during the last quarter. Condor Capital Management raised its position in Qualcomm by 2.1% in the fourth quarter. Condor Capital Management now owns 23,981 shares of the wireless technology company’s stock valued at $1,199,000 after buying an additional 497 shares during the last quarter. J. Goldman & Co LP purchased a new position in Qualcomm during the fourth quarter valued at about $6,968,000. Agran Libbie raised its position in Qualcomm by 859.3% in the fourth quarter. Agran Libbie now owns 1,622,155 shares of the wireless technology company’s stock valued at $8,108,000 after buying an additional 1,453,056 shares during the last quarter. Finally, Skba Capital Management LLC raised its position in Qualcomm by 9.3% in the fourth quarter. Skba Capital Management LLC now owns 380,640 shares of the wireless technology company’s stock valued at $19,026,000 after buying an additional 32,500 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.