QUALCOMM (NASDAQ:QCOM) PT Raised to $170.00

QUALCOMM (NASDAQ:QCOM) had its price target increased by Citigroup from $160.00 to $170.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the wireless technology company’s stock.

Several other brokerages have also weighed in on QCOM. Mizuho upped their target price on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a buy rating in a research report on Thursday. HSBC upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Robert W. Baird boosted their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Finally, Piper Sandler lifted their price target on QUALCOMM from $165.00 to $185.00 and gave the company an overweight rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.46 during trading hours on Thursday, reaching $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The company’s 50 day moving average is $167.69 and its two-hundred day moving average is $146.59. The company has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. QUALCOMM has a 1 year low of $101.47 and a 1 year high of $183.19.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Equities research analysts anticipate that QUALCOMM will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 43.01%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock valued at $7,429,728 over the last three months. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter valued at $2,507,978,000. International Assets Investment Management LLC raised its stake in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Finally, Barclays PLC boosted its holdings in QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.