QUALCOMM (NASDAQ:QCOM) Price Target Raised to $200.00 at Wolfe Research

QUALCOMM (NASDAQ:QCOM) had its price objective increased by Wolfe Research from $180.00 to $200.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an outperform rating on the wireless technology company’s stock.

Several other research analysts have also issued reports on QCOM. Mizuho increased their price objective on QUALCOMM from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, February 1st. KeyCorp increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Citigroup lowered shares of QUALCOMM from a buy rating to a neutral rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Canaccord Genuity Group raised their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a report on Friday, January 19th. Finally, Cantor Fitzgerald increased their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned 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, the company has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Performance

QUALCOMM stock traded down $0.46 on Thursday, hitting $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The firm has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $167.69 and a 200-day moving average price of $146.59.

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

QUALCOMM Increases Dividend

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

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated 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 in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock valued at $7,429,728 in the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of QUALCOMM in the first quarter worth $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the fourth quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC increased its stake in 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 buying an additional 115 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.