QUALCOMM (NASDAQ:QCOM) Price Target Increased to $206.00 by Analysts at Canaccord Genuity Group

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

Several other equities analysts have also recently commented on QCOM. Benchmark assumed coverage on QUALCOMM in a research note on Tuesday, April 23rd. They set a buy rating and a $200.00 target price for the company. Rosenblatt Securities raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, February 1st. UBS Group upped their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the company a neutral rating in a research note on Thursday. Mizuho lifted their price target on QUALCOMM from $160.00 to $180.00 and gave the stock a buy rating in a research note on Thursday. Finally, Barclays upped their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an overweight rating in a research note on Thursday. One equities research 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, QUALCOMM currently has a consensus rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Stock Down 0.3 %

NASDAQ:QCOM traded down $0.46 during mid-day trading on Thursday, hitting $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The business has a fifty day simple moving average of $167.69 and a 200-day simple moving average of $146.59. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. QUALCOMM has a 1 year low of $101.47 and a 1 year high of $183.19. The firm has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33.

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

QUALCOMM Increases Dividend

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

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the firm’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 transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently modified their holdings of QCOM. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. lifted its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of QUALCOMM in the first quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

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.