QUALCOMM (NASDAQ:QCOM) Price Target Raised to $185.00

QUALCOMM (NASDAQ:QCOM) had its target price boosted by Piper Sandler from $165.00 to $185.00 in a research note issued to investors on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the wireless technology company’s stock.

Other research analysts have also issued research reports about the company. KeyCorp raised their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an overweight rating in a research report on Monday, April 8th. UBS Group lifted their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Bank of America boosted their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a buy rating in a research report on Thursday. Finally, Robert W. Baird increased their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Price Performance

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

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

QUALCOMM Increases Dividend

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

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,260 shares of company stock worth $7,429,728. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. 9258 Wealth Management LLC increased its position in shares of QUALCOMM by 0.9% during the first quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock worth $1,737,000 after purchasing an additional 91 shares in the last quarter. Gould Asset Management LLC CA purchased a new stake in QUALCOMM in the first quarter valued at about $226,000. WBI Investments LLC boosted its holdings in QUALCOMM by 50.3% in the first quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock worth $2,220,000 after acquiring an additional 4,387 shares in the last quarter. Team Hewins LLC grew its stake in shares of QUALCOMM by 2.2% during the first quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after acquiring an additional 167 shares during the last quarter. Finally, Affinity Investment Advisors LLC grew its stake in shares of QUALCOMM by 4.2% during the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock worth $1,692,000 after acquiring an additional 400 shares during the last quarter. Institutional investors 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.