QUALCOMM (NASDAQ:QCOM) Price Target Raised to $215.00

QUALCOMM (NASDAQ:QCOM) had its price target upped by Sanford C. Bernstein from $200.00 to $215.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the wireless technology company’s stock.

Several other research firms have also commented on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday. Barclays boosted their target price on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Stock Performance

QUALCOMM stock opened at $170.91 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM has a twelve month low of $119.85 and a twelve month high of $230.63. The company’s 50-day moving average price is $168.53 and its 200-day moving average price is $182.15. The company has a market cap of $190.39 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. On average, equities research analysts forecast that QUALCOMM will post 8.62 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,146 shares of company stock valued at $2,709,186. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in shares of QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Van ECK Associates Corp grew its position in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. Dimensional Fund Advisors LP raised its holdings in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of QUALCOMM by 0.3% during the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock worth $563,274,000 after buying an additional 8,300 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.