JPMorgan Chase & Co. Cuts QUALCOMM (NASDAQ:QCOM) Price Target to $210.00

QUALCOMM (NASDAQ:QCOM) had its price objective cut by JPMorgan Chase & Co. from $230.00 to $210.00 in a research report released on Tuesday, Benzinga reports. They currently have an overweight rating on the wireless technology company’s stock.

A number of other equities research analysts have also issued reports on QCOM. Susquehanna lifted their target price on QUALCOMM from $205.00 to $250.00 and gave the company a positive rating in a research report on Wednesday, July 17th. Piper Sandler reiterated an overweight rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Cantor Fitzgerald reissued a neutral rating and issued a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a hold rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company boosted their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an underweight rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $211.67.

QUALCOMM Stock Performance

Shares of QCOM opened at $173.92 on Tuesday. The firm’s 50 day moving average price is $173.19 and its two-hundred day moving average price is $182.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The firm has a market cap of $194.09 billion, a P/E ratio of 23.38, a PEG ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, analysts forecast that QUALCOMM will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.95%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last ninety days. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Matrix Capital Management Company LP acquired a new position in shares of QUALCOMM in the 1st quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA increased its stake in shares of QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares during the period. 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 valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp boosted its position in QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in QUALCOMM during the 1st quarter worth approximately $238,770,000. Institutional investors and hedge funds 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.