Piper Sandler Reiterates “Overweight” Rating for QUALCOMM (NASDAQ:QCOM)

Piper Sandler restated their overweight rating on shares of QUALCOMM (NASDAQ:QCOMFree Report) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $205.00 price objective on the wireless technology company’s stock, up from their prior price objective of $185.00.

Several other research firms have also commented on QCOM. JPMorgan Chase & Co. upped their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Robert W. Baird increased their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Wolfe Research increased their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. HSBC cut QUALCOMM from a buy rating to a hold rating and set a $200.00 target price for the company. in a report on Wednesday, July 17th. Finally, Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an in-line rating and a $177.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of Moderate Buy and an average price target of $210.63.

Check Out Our Latest Stock Analysis on QCOM

QUALCOMM Stock Performance

NASDAQ QCOM traded down $0.30 during trading hours on Thursday, reaching $159.01. The stock had a trading volume of 4,554,809 shares, compared to its average volume of 9,392,492. The stock has a fifty day moving average of $200.91 and a 200 day moving average of $178.59. The stock has a market cap of $177.14 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.98 and a current ratio of 2.39.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the transaction, the chief financial officer now owns 66,343 shares in the company, valued at $11,987,516.67. The disclosure for this sale can be found here. Insiders sold a total of 35,129 shares of company stock valued at $6,730,436 over the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Norges Bank bought a new position in QUALCOMM during the 4th quarter worth about $2,507,978,000. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM during the 1st quarter worth about $1,171,516,000. Putnam Investments LLC boosted its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after buying an additional 263,482 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in QUALCOMM by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock valued at $913,752,000 after purchasing an additional 259,403 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

About QUALCOMM

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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.

See Also

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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