QUALCOMM (NASDAQ:QCOM) Price Target Cut to $230.00

QUALCOMM (NASDAQ:QCOM) had its price target trimmed by Susquehanna from $250.00 to $230.00 in a report issued on Monday, Benzinga reports. The firm currently has a positive rating on the wireless technology company’s stock.

Other equities research analysts have also issued research reports about the stock. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Friday, August 2nd. Barclays lifted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company increased their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ QCOM opened at $168.10 on Monday. The company has a market cap of $187.26 billion, a P/E ratio of 21.79, a PEG ratio of 1.74 and a beta of 1.28. The firm has a 50-day simple moving average of $169.30 and a two-hundred day simple moving average of $182.15. QUALCOMM has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Research analysts anticipate that QUALCOMM will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio is currently 44.04%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the transaction, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock valued at $3,679,407 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently modified their holdings of the stock. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at approximately $27,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at $32,000. Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the third quarter valued at $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.