QUALCOMM (NASDAQ:QCOM) Price Target Raised to $206.00

QUALCOMM (NASDAQ:QCOM) had its target price hoisted by Canaccord Genuity Group from $180.00 to $206.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

A number of other equities analysts have also recently commented on QCOM. Robert W. Baird boosted their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an outperform rating in a report on Thursday. Morgan Stanley increased their price target on QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a research note on Thursday. Susquehanna boosted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a positive rating in a report on Wednesday, April 10th. Benchmark initiated coverage on shares of QUALCOMM in a research note on Tuesday, April 23rd. They issued a buy rating and a $200.00 price objective for the company. Finally, Mizuho upped their price target on QUALCOMM from $160.00 to $180.00 and gave the stock a buy rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Trading Down 0.3 %

Shares of QCOM stock traded down $0.46 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. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $183.19. The stock has a market cap of $200.48 billion, a PE ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $167.69 and a 200-day moving average of $146.59.

QUALCOMM (NASDAQ:QCOM) last announced 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. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities analysts forecast that QUALCOMM will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

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

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’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 transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. 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 90 days. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently made changes to their positions in QCOM. Peoples Bank OH purchased a new stake in QUALCOMM during the fourth quarter worth approximately $219,000. HF Advisory Group LLC acquired a new stake in shares of QUALCOMM during the third quarter valued at about $629,000. Bank Hapoalim BM lifted its stake in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC increased its stake in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the last quarter. Finally, 1834 Investment Advisors Co. lifted its position in shares of QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares during 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.