QUALCOMM (NASDAQ:QCOM) Price Target Increased to $180.00 by Analysts at Mizuho

QUALCOMM (NASDAQ:QCOM) had its price objective hoisted by Mizuho from $160.00 to $180.00 in a research report released on Thursday, Benzinga reports. Mizuho currently has a buy rating on the wireless technology company’s stock.

Several other research firms also recently weighed in on QCOM. Citigroup downgraded shares of QUALCOMM from a buy rating to a neutral rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. KeyCorp increased their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a research report on Monday, April 8th. StockNews.com upgraded QUALCOMM from a buy rating to a strong-buy rating in a research report on Tuesday. HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a report on Tuesday. Finally, Bank of America upped their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a buy rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Stock Performance

QCOM traded down $0.46 during midday trading on Thursday, reaching $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The stock has a market cap of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. The business has a 50-day moving average price of $167.69 and a two-hundred day moving average price of $146.59. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. On average, sell-side analysts expect that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 43.01%.

Insider Activity

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in QUALCOMM during the fourth quarter valued at $2,507,978,000. International Assets Investment Management LLC lifted its stake in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Finally, Barclays PLC lifted its position in QUALCOMM by 53.6% in the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after acquiring an additional 1,842,868 shares in the last quarter. 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.