QUALCOMM (NASDAQ:QCOM) Price Target Increased to $170.00 by Analysts at Citigroup

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

A number of other research analysts also recently weighed in on the company. Barclays raised their price target on QUALCOMM from $155.00 to $185.00 and gave the company an overweight rating in a research note on Thursday. Bank of America boosted their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a buy rating in a report on Thursday. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research note on Friday, January 19th. UBS Group boosted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday. Finally, TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Stock Down 0.3 %

NASDAQ:QCOM traded down $0.46 during trading hours on Thursday, reaching $179.64. 10,043,912 shares of the stock were exchanged, compared to its average volume of 8,171,053. The firm has a 50 day moving average of $167.69 and a 200 day moving average of $146.59. 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 stock has a market cap of $200.48 billion, a PE ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $183.19.

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

QUALCOMM Increases Dividend

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

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’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 completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently modified their holdings of the company. Simon Quick Advisors LLC grew its holdings in QUALCOMM by 10.6% during the 3rd quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock worth $308,000 after acquiring an additional 265 shares during the last quarter. Legacy Financial Group LLC acquired a new position in shares of QUALCOMM during the third quarter worth $29,000. NorthRock Partners LLC grew its position in shares of QUALCOMM by 12.5% in the 3rd quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company’s stock valued at $491,000 after buying an additional 490 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its stake in shares of QUALCOMM by 50.7% in the third quarter. Horst & Graben Wealth Management LLC now owns 2,812 shares of the wireless technology company’s stock worth $312,000 after acquiring an additional 946 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of QUALCOMM by 1.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 543,300 shares of the wireless technology company’s stock worth $60,339,000 after purchasing an additional 9,200 shares during the period. 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.