QUALCOMM (NASDAQ:QCOM) Price Target Increased to $180.00 by Analysts at Bank of America

QUALCOMM (NASDAQ:QCOM) had its target price raised by Bank of America from $173.00 to $180.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

QCOM has been the topic of a number of other reports. Benchmark initiated coverage on shares of QUALCOMM in a report on Tuesday, April 23rd. They set a buy rating and a $200.00 price objective on the stock. Barclays upped their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Cantor Fitzgerald increased their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research report on Monday, April 8th. Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a research report on Thursday. Finally, Citigroup downgraded QUALCOMM from a buy rating to a neutral rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Trading Down 0.3 %

Shares of QCOM traded down $0.46 during trading hours on Thursday, reaching $179.64. 10,043,912 shares of the company traded hands, compared to its average volume of 8,171,053. The firm has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19. The stock’s fifty day moving average price is $167.69 and its 200 day moving average price is $146.59. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Sell-side analysts forecast that QUALCOMM will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 43.01%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock valued at $7,429,728 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several institutional investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $29,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM in the fourth quarter valued at approximately $32,000. Institutional investors 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.