QUALCOMM (NASDAQ:QCOM) Price Target Raised to $200.00

QUALCOMM (NASDAQ:QCOM) had its target price raised by JPMorgan Chase & Co. from $190.00 to $200.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the wireless technology company’s stock.

Other analysts have also recently issued research reports about the company. Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Citigroup reiterated a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average price target of $183.95.

QUALCOMM Trading Down 1.9%

Shares of NASDAQ:QCOM opened at $159.06 on Monday. The company has a market cap of $174.65 billion, a P/E ratio of 16.20, a PEG ratio of 2.08 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $182.10. The stock’s fifty day moving average price is $155.06 and its 200-day moving average price is $155.08.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. Sell-side analysts expect that QUALCOMM will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 424,099 shares of company stock valued at $8,310,735. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC raised its position in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter worth $27,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $29,000. 74.35% of the stock is owned by 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.