QUALCOMM (NASDAQ:QCOM) Price Target Increased to $250.00 by Analysts at Rosenblatt Securities

QUALCOMM (NASDAQ:QCOM) had its target price boosted by Rosenblatt Securities from $240.00 to $250.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

A number of other equities analysts also recently weighed in on QCOM. Hsbc Global Res downgraded shares of QUALCOMM from a strong-buy rating to a hold rating in a research note on Wednesday, July 17th. UBS Group boosted their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Westpark Capital reissued a hold rating on shares of QUALCOMM in a research note on Tuesday. Evercore ISI started coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an in-line rating and a $177.00 price target for the company. Finally, Argus boosted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of Moderate Buy and a consensus price target of $210.63.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $5.16 during trading on Thursday, reaching $158.84. The company had a trading volume of 8,821,617 shares, compared to its average volume of 9,377,999. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The stock has a market cap of $177.27 billion, a PE ratio of 21.79, a PEG ratio of 2.20 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The business’s 50 day moving average price is $201.93 and its 200-day moving average price is $177.92.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.32% and a return on equity of 38.80%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Analysts expect that QUALCOMM will post 7.84 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the sale, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at $11,987,516.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the sale, the chief financial officer now directly owns 66,343 shares in the company, valued at $11,987,516.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,129 shares of company stock worth $6,730,436. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

Several institutional investors and hedge funds have recently added to or reduced their stakes in QCOM. Price T Rowe Associates Inc. MD raised its position in shares of QUALCOMM by 8.1% in the fourth 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 purchasing an additional 1,909,025 shares during the period. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter valued at about $2,507,978,000. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the first quarter valued at about $1,171,516,000. Putnam Investments LLC raised its position in shares of QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of QUALCOMM by 4.3% in the fourth 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 period. 74.35% of the stock is owned by 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.