QUALCOMM (NASDAQ:QCOM) Price Target Cut to $230.00

QUALCOMM (NASDAQ:QCOM) had its price target lowered by Susquehanna from $250.00 to $230.00 in a research note issued to investors on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, July 17th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $207.92.

QUALCOMM Trading Down 3.8 %

QCOM opened at $166.60 on Monday. The firm’s fifty day moving average is $169.30 and its two-hundred day moving average is $182.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market cap of $185.93 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities research analysts anticipate that QUALCOMM will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 in the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

A number of hedge funds have recently modified their holdings of the stock. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the 1st quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA boosted its holdings in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC boosted its holdings in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the period. Van ECK Associates Corp boosted its holdings in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the period. Finally, Maj Invest Holding A S bought a new stake in QUALCOMM in the 3rd quarter valued at about $229,078,000. 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.