QUALCOMM (NASDAQ:QCOM) Price Target Increased to $200.00 by Analysts at Robert W. Baird

QUALCOMM (NASDAQ:QCOM) had its price target raised by Robert W. Baird from $160.00 to $200.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the wireless technology company’s stock.

Several other research analysts also recently issued reports on QCOM. StockNews.com raised QUALCOMM from a buy rating to a strong-buy rating in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $173.00 to $170.00 and set an overweight rating on the stock in a report on Thursday, February 1st. Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a report on Friday, January 19th. HSBC raised their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a buy rating in a research note on Tuesday. Finally, Benchmark began coverage on shares of QUALCOMM in a report on Tuesday, April 23rd. They issued a buy rating and a $200.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $0.46 during trading on Thursday, reaching $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The stock has a 50-day moving average price of $167.69 and a two-hundred day moving average price of $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. The stock has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping 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 company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, sell-side analysts anticipate that QUALCOMM will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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 dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 43.01%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

A number of hedge funds have recently added to or reduced their stakes in QCOM. Simon Quick Advisors LLC boosted its holdings in shares of QUALCOMM by 10.6% during the 3rd quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock valued at $308,000 after acquiring an additional 265 shares in the last quarter. Legacy Financial Group LLC bought a new position in QUALCOMM in the third quarter valued at about $29,000. NorthRock Partners LLC boosted its stake in shares of QUALCOMM by 12.5% during the third quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company’s stock valued at $491,000 after purchasing an additional 490 shares in the last quarter. Horst & Graben Wealth Management LLC grew its holdings in shares of QUALCOMM by 50.7% during the third quarter. Horst & Graben Wealth Management LLC now owns 2,812 shares of the wireless technology company’s stock worth $312,000 after purchasing an additional 946 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of QUALCOMM by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 543,300 shares of the wireless technology company’s stock valued at $60,339,000 after buying an additional 9,200 shares during the period. Institutional investors and hedge funds 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.