QUALCOMM (NASDAQ:QCOM) Price Target Raised to $206.00

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

QCOM has been the subject of a number of other reports. Cantor Fitzgerald reaffirmed a neutral rating and issued a $190.00 target price on shares of QUALCOMM in a research note on Thursday. Evercore ISI assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an in-line rating and a $177.00 price objective for the company. Bank of America boosted their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the company a buy rating in a report on Thursday. Barclays raised their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an overweight rating in a report on Thursday. Finally, UBS Group upped their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a neutral rating in a report on Thursday. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $0.46 during mid-day trading on Thursday, reaching $179.64. 10,043,912 shares of the stock traded hands, compared to its average volume of 8,171,053. 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 business has a 50-day moving average of $167.69 and a 200 day moving average of $146.59. The stock has a market capitalization of $200.48 billion, a PE ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $183.19.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, analysts predict that QUALCOMM will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s payout ratio is currently 43.01%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on 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 in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock valued at $7,429,728 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. Simon Quick Advisors LLC increased its stake in QUALCOMM by 10.6% in the third quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock valued at $308,000 after purchasing an additional 265 shares during the period. Legacy Financial Group LLC acquired a new position in QUALCOMM in the 3rd quarter valued at about $29,000. NorthRock Partners LLC raised its stake in QUALCOMM by 12.5% during the 3rd quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company’s stock valued at $491,000 after acquiring an additional 490 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its position in QUALCOMM by 50.7% during the 3rd 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 QUALCOMM by 1.7% during 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 acquiring an additional 9,200 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

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.