QUALCOMM (NASDAQ:QCOM) Receives New Coverage from Analysts at Benchmark

Benchmark started coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $200.00 target price on the wireless technology company’s stock.

QCOM has been the topic of several other research reports. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a report on Friday, January 19th. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a research report on Wednesday, April 10th. TD Cowen boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Cantor Fitzgerald boosted their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research report on Monday, April 8th. Finally, Mizuho raised their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of Moderate Buy and an average price target of $158.86.

QUALCOMM Stock Up 0.7 %

NASDAQ:QCOM opened at $161.35 on Tuesday. The company’s 50 day moving average is $165.24 and its two-hundred day moving average is $143.83. The company has a market cap of $180.07 billion, a PE ratio of 23.38, a P/E/G ratio of 2.15 and a beta of 1.41. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Analysts anticipate that QUALCOMM will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.11%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 49.28%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Grandview Asset Management LLC increased its position in shares of QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after purchasing an additional 62 shares in the last quarter. Tealwood Asset Management Inc. increased its position in QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after buying an additional 63 shares during the period. VERITY Wealth Advisors lifted its stake in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after buying an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in shares of QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after acquiring an additional 66 shares during the period. Finally, Transform Wealth LLC grew its position in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after acquiring an additional 66 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.