QUALCOMM (NASDAQ:QCOM) PT Raised to $240.00 at Mizuho

QUALCOMM (NASDAQ:QCOM) had its price target increased by Mizuho from $180.00 to $240.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

Several other research firms have also commented on QCOM. Rosenblatt Securities lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, February 1st. HSBC boosted their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a buy rating in a report on Tuesday, April 30th. UBS Group boosted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. Finally, TD Cowen boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $185.91.

QUALCOMM Stock Up 0.9 %

NASDAQ QCOM opened at $205.91 on Friday. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $217.43. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $180.29 and its 200-day simple moving average is $158.96. The firm has a market cap of $229.80 billion, a PE ratio of 27.68, a P/E/G ratio of 2.52 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, equities analysts anticipate that QUALCOMM will post 7.83 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 given a dividend of $0.85 per share. The ex-dividend date of this dividend 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 1.65%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,285 shares of company stock valued at $9,580,635. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the first quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC lifted its stake in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its stake in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. 74.35% of the stock is 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.