Robert W. Baird Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $200.00

QUALCOMM (NASDAQ:QCOM) had its price objective increased by Robert W. Baird from $160.00 to $200.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the wireless technology company’s stock.

Other research analysts have also issued reports about the company. Cantor Fitzgerald lifted their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a report on Monday, April 8th. Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a research report on Friday, January 19th. Benchmark began coverage on shares of QUALCOMM in a research note on Tuesday, April 23rd. They issued a buy rating and a $200.00 price target on the stock. Mizuho boosted their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Finally, Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an in-line rating and a $177.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Down 0.3 %

Shares of QUALCOMM stock traded down $0.46 during trading on Thursday, reaching $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The firm’s fifty day moving average is $167.69 and its 200-day moving average is $146.59. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $183.19. The company has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, analysts anticipate that QUALCOMM will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock worth $7,429,728 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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. Morgan Stanley grew its stake in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares during the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter valued at $2,507,978,000. Finally, Northern Trust Corp boosted its position in shares of QUALCOMM by 3.5% during the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after buying an additional 415,398 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.