Qualcomm, Inc. (NASDAQ: QCOM) Stock: Does It Mean Opportunity?

In the last trading session, 6.68 million shares of the Qualcomm, Inc. (NASDAQ:QCOM) were traded, and its beta was 1.41. Most recently the company’s share price was $171.72, and it changed around $2.42 or 1.43% from the last close, which brings the market valuation of the company to $191.64B. QCOM currently trades at a discount to its 52-week high of $177.59, offering almost -3.42% off that amount. The share price’s 52-week low was $101.47, which indicates that the current value has risen by an impressive 40.91% since then. We note from Qualcomm, Inc.’s average daily trading volume that its 10-day average is 6.31 million shares, with the 3-month average coming to 8.94 million.

Qualcomm, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 1.97. If we narrow it down even further, the data shows that 0 out of 23 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 13 recommended QCOM as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Qualcomm, Inc. is expected to report earnings per share of $2.31 for the current quarter.

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Qualcomm, Inc. (NASDAQ:QCOM) trade information

Instantly QCOM has showed a green trend with a performance of 1.43% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 18.73% year-to-date, but still up 0.95% over the last five days. On the other hand, Qualcomm, Inc. (NASDAQ:QCOM) is 8.83% up in the 30-day period. We can see from the shorts that 20.22 million shares have been sold at a short interest cover period of 2.15 day(s).

The consensus price target as assigned by Wall Street analysts is $166.17, which translates to bulls needing to decrease their stock price by -3.34% from its current value. Analyst projections state that QCOM is forecast to be at a low of $105 and a high of $250.

Qualcomm, Inc. (QCOM) estimates and forecasts

Qualcomm, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 54.56 percent over the past six months and at a 13.52% annual growth rate that is well above the industry average of -1.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 7.40% in revenue this quarter, and will report an increase of 15.50% in the next quarter. The year-over-year growth rate is expected to be 6.40%, up from the previous year.

Consensus estimates provided by 23 financial analysts predict the company will bring in an average of $9.31 billion in revenue for the current quarter. 23 analysts expect Qualcomm, Inc. to make $9.04 billion in revenue for the quarter ending Jun 2024.

Qualcomm, Inc. earnings are expected to increase by 17.20% in 2024, but the outlook is positive 8.34% per year for the next five years.

QCOM Dividends

Qualcomm, Inc.’s next quarterly earnings report is expected to be released around May 01 and May 06. The annual dividend yield of the stock is 1.86 percent and its annual dividend per share was 3.20. It is important to note, however, that the 1.86% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Qualcomm, Inc. (NASDAQ:QCOM)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.13% of Qualcomm, Inc. shares, and 78.51% of them are in the hands of institutional investors. The stock currently has a share float of 78.61%. Qualcomm, Inc. stock is held by 3,246 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 10.02% of the shares, which is about 110.23 million shares worth $13.12 billion.

Blackrock Inc., with 7.74% or 85.09 million shares worth $10.13 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 34.73 million shares worth $4.13 billion, making up 3.16% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 26.52 million shares worth around $3.16 billion, which represents about 2.41% of the total shares outstanding.