Qualcomm Inc. (NASDAQ:QCOM) gapped up before the market opened on Monday . The stock had previously closed at $54.63, but opened at $54.75. Qualcomm shares last traded at $55.45, with a volume of 5,267,274 shares trading hands.

A number of equities research analysts have issued reports on QCOM shares. Mizuho boosted their price target on Qualcomm from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, April 12th. Zacks Investment Research downgraded Qualcomm from a “hold” rating to a “sell” rating in a research note on Tuesday, March 29th. Canaccord Genuity restated a “buy” rating and set a $65.00 price target on shares of Qualcomm in a research note on Thursday, April 14th. Barclays PLC downgraded Qualcomm from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $55.00 to $50.00 in a research note on Monday, March 28th. Finally, Bank of America Corp. restated a “buy” rating on shares of Qualcomm in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $60.71.

The firm has a 50 day moving average price of $53.92 and a 200-day moving average price of $51.05. The firm has a market cap of $81.08 billion and a price-to-earnings ratio of 17.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, August 29th.

In other Qualcomm news, EVP Matthew S. Grob sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $55.25, for a total value of $552,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Cristiano R. Amon sold 6,887 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $51.51, for a total value of $354,749.37. Following the completion of the sale, the executive vice president now directly owns 1,204 shares in the company, valued at $62,018.04. The disclosure for this sale can be found here.

Other hedge funds have modified their holdings of the company. State of Tennessee Treasury Department raised its stake in shares of Qualcomm by 108.5% in the fourth quarter. State of Tennessee Treasury Department now owns 502,568 shares of the wireless technology company’s stock valued at $25,121,000 after buying an additional 261,568 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of Qualcomm by 59.2% in the fourth quarter. Employees Retirement System of Texas now owns 693,800 shares of the wireless technology company’s stock valued at $34,680,000 after buying an additional 258,000 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Qualcomm by 1.9% in the fourth quarter. TrimTabs Asset Management LLC now owns 35,991 shares of the wireless technology company’s stock valued at $1,799,000 after buying an additional 674 shares during the last quarter. Foresters Investment Management Company Inc. raised its stake in shares of Qualcomm by 13.7% in the fourth quarter. Foresters Investment Management Company Inc. now owns 517,108 shares of the wireless technology company’s stock valued at $25,848,000 after buying an additional 62,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Qualcomm by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,472,681 shares of the wireless technology company’s stock valued at $173,592,000 after buying an additional 137,468 shares during the last quarter.

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

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