QUALCOMM (NASDAQ:QCOM) Price Target Raised to $190.00

QUALCOMM (NASDAQ:QCOM) had its price target boosted by HSBC from $170.00 to $190.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

Several other analysts also recently issued reports on the company. Citigroup downgraded QUALCOMM from a buy rating to a neutral rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Cantor Fitzgerald raised their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research note on Monday, April 8th. Canaccord Genuity Group boosted their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a research note on Friday, January 19th. Finally, Mizuho increased their price target on QUALCOMM from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $179.64 on Tuesday. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $183.19. The firm has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.47 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 business has a fifty day simple moving average of $167.20 and a two-hundred day simple moving average of $146.11.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating 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 analysts’ expectations of $9.50 billion. On average, 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 given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of QUALCOMM 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Grandview Asset Management LLC grew its stake in QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the last quarter. Tealwood Asset Management Inc. lifted its holdings in shares of QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after purchasing an additional 63 shares during the period. VERITY Wealth Advisors boosted its position in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after buying an additional 64 shares during the last quarter. SlateStone Wealth LLC increased its holdings in QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock worth $656,000 after buying an additional 65 shares during the period. Finally, Cassaday & Co Wealth Management LLC raised its position in QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after buying an additional 66 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other 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.