QUALCOMM Incorporated (NASDAQ:QCOM) Receives $188.74 Average PT from Analysts

QUALCOMM Incorporated (NASDAQ:QCOMGet Free Report) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $188.74.

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Argus raised their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Susquehanna lifted their price objective on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. TD Cowen increased their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Benchmark restated a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd.

Get Our Latest Stock Report on QUALCOMM

QUALCOMM Stock Up 2.2 %

Shares of QUALCOMM stock opened at $227.09 on Friday. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The stock has a market cap of $253.43 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.71 and a beta of 1.30. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $190.73 and a 200 day moving average price of $166.00.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities research analysts forecast that QUALCOMM will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,206,875 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after buying an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of QUALCOMM by 8.1% in the 4th 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 during the last quarter. Morgan Stanley raised its position in shares of QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the period. Norges Bank purchased a new stake 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% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after purchasing an additional 415,398 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

(Get Free Report

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.

Further Reading

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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