QUALCOMM (NASDAQ:QCOM) PT Raised to $175.00 at UBS Group

QUALCOMM (NASDAQ:QCOM) had its price target boosted by UBS Group from $165.00 to $175.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the wireless technology company’s stock.

Other analysts have also recently issued reports about the company. Robert W. Baird upped their price target on QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research note on Thursday. Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a buy rating in a research note on Thursday, February 1st. Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Trading Down 0.3 %

Shares of QCOM traded down $0.46 on Thursday, reaching $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $183.19. The stock has a market capitalization 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 current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $167.69 and a two-hundred 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 business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Research analysts anticipate that QUALCOMM will post 7.64 earnings per share 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 issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The shares were 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 owns 253,893 shares in the company, valued at $46,208,526. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Large investors have recently added to or reduced their stakes in the business. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the first quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. grew its stake in QUALCOMM by 327.1% in the 4th 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 during the last quarter. Richardson Capital Management LLC bought a new position in QUALCOMM in the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM during the fourth quarter worth approximately $32,000. Finally, Cherry Tree Wealth Management LLC boosted its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 115 shares during the period. Institutional investors 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.