Loop Capital Begins Coverage on QUALCOMM (NASDAQ:QCOM)

Loop Capital began coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report issued on Monday, MarketBeat Ratings reports. The firm issued a hold rating and a $180.00 price target on the wireless technology company’s stock.

A number of other equities analysts also recently commented on the stock. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Susquehanna cut their price objective on QUALCOMM from $250.00 to $230.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.92.

QUALCOMM Stock Up 2.2 %

Shares of NASDAQ:QCOM opened at $163.97 on Monday. QUALCOMM has a 1 year low of $125.67 and a 1 year high of $230.63. The stock has a 50-day simple moving average of $168.29 and a 200-day simple moving average of $182.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a market capitalization of $182.17 billion, a P/E ratio of 18.24, a PEG ratio of 2.75 and a beta of 1.28.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,146 shares of company stock worth $2,709,186. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently made changes to their positions in QCOM. Kestra Investment Management LLC bought a new position in QUALCOMM in the 3rd quarter worth approximately $775,000. B&L Asset Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth $632,000. Erste Asset Management GmbH bought a new position in shares of QUALCOMM in the third quarter worth $15,657,000. Semmax Financial Advisors Inc. increased its holdings in shares of QUALCOMM by 57.8% during the third quarter. Semmax Financial Advisors Inc. now owns 10,600 shares of the wireless technology company’s stock valued at $1,732,000 after purchasing an additional 3,884 shares during the period. Finally, ARGA Investment Management LP increased its holdings in shares of QUALCOMM by 18.8% during the third quarter. ARGA Investment Management LP now owns 6,338 shares of the wireless technology company’s stock valued at $1,078,000 after purchasing an additional 1,001 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.