QUALCOMM (NASDAQ:QCOM) PT Lowered to $168.00 at Mizuho

QUALCOMM (NASDAQ:QCOMGet Rating) had its target price cut by Mizuho from $185.00 to $168.00 in a report published on Tuesday morning, The Fly reports. They currently have a buy rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. Susquehanna cut their price objective on QUALCOMM from $190.00 to $165.00 in a report on Thursday, April 28th. Tigress Financial lifted their price objective on QUALCOMM from $195.00 to $238.00 in a report on Thursday, May 5th. Deutsche Bank Aktiengesellschaft cut their price objective on QUALCOMM from $210.00 to $190.00 and set a buy rating for the company in a report on Wednesday, April 20th. Sumitomo Mitsui Financial Group lowered QUALCOMM from an outperform rating to a neutral rating and cut their price objective for the stock from $215.00 to $155.00 in a report on Monday, April 18th. Finally, Wells Fargo & Company cut their price target on QUALCOMM from $185.00 to $150.00 in a report on Thursday, April 28th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of Moderate Buy and a consensus price target of $196.48.

QCOM stock opened at $120.09 on Tuesday. QUALCOMM has a 1-year low of $118.22 and a 1-year high of $193.58. The business has a fifty day moving average price of $135.30 and a 200-day moving average price of $156.62. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.61 and a quick ratio of 1.27. The stock has a market capitalization of $134.50 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.69 and a beta of 1.20.

QUALCOMM (NASDAQ:QCOMGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.19. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. The firm had revenue of $11.16 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. As a group, analysts anticipate that QUALCOMM will post 11.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Investors of record on Thursday, June 2nd were given a $0.75 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Wednesday, June 1st. QUALCOMM’s payout ratio is currently 30.71%.

In related news, CAO Erin L. Polek sold 1,521 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.05% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of QCOM. EagleClaw Capital Managment LLC raised its position in QUALCOMM by 2.2% during the third quarter. EagleClaw Capital Managment LLC now owns 44,550 shares of the wireless technology company’s stock valued at $5,748,000 after purchasing an additional 975 shares during the period. MFA Wealth Advisors LLC purchased a new stake in QUALCOMM during the third quarter valued at approximately $36,000. Voloridge Investment Management LLC grew its stake in shares of QUALCOMM by 158.2% during the third quarter. Voloridge Investment Management LLC now owns 89,044 shares of the wireless technology company’s stock valued at $11,485,000 after buying an additional 54,559 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of QUALCOMM by 12.3% during the third quarter. Rehmann Capital Advisory Group now owns 9,066 shares of the wireless technology company’s stock valued at $1,170,000 after buying an additional 996 shares during the last quarter. Finally, Atria Investments LLC grew its stake in shares of QUALCOMM by 9.6% during the third quarter. Atria Investments LLC now owns 102,966 shares of the wireless technology company’s stock valued at $13,281,000 after buying an additional 9,027 shares during the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.

QUALCOMM Company Profile (Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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