Piper Sandler Issues Pessimistic Forecast for QUALCOMM (NASDAQ:QCOM) Stock Price

QUALCOMM (NASDAQ:QCOM) had its price target decreased by Piper Sandler from $205.00 to $190.00 in a report published on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the wireless technology company’s stock.

Other equities research analysts have also issued reports about the company. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Down 3.7 %

Shares of NASDAQ QCOM opened at $169.32 on Thursday. The firm has a fifty day simple moving average of $161.70 and a two-hundred day simple moving average of $166.02. QUALCOMM has a 12 month low of $143.63 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $188.11 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities analysts expect that QUALCOMM will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock valued at $4,000,870 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Brookstone Capital Management lifted its position in QUALCOMM by 3.5% during the third quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock valued at $4,957,000 after purchasing an additional 991 shares in the last quarter. CWM LLC lifted its position in shares of QUALCOMM by 2.7% during the 3rd quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock valued at $21,156,000 after buying an additional 3,264 shares in the last quarter. Marcum Wealth LLC grew its stake in shares of QUALCOMM by 8.6% during the 3rd quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 200 shares during the period. Wedmont Private Capital increased its holdings in QUALCOMM by 7.2% in the 3rd quarter. Wedmont Private Capital now owns 10,946 shares of the wireless technology company’s stock worth $1,827,000 after acquiring an additional 738 shares in the last quarter. Finally, Patten Group Inc. increased its holdings in QUALCOMM by 3.1% in the 3rd quarter. Patten Group Inc. now owns 14,172 shares of the wireless technology company’s stock worth $2,410,000 after acquiring an additional 424 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.