QUALCOMM (NASDAQ:QCOM) Price Target Raised to $140.00

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by Wells Fargo & Company from $120.00 to $140.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the wireless technology company’s stock.

A number of other equities research analysts also recently issued reports on the company. Evercore ISI began coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an in-line rating and a $177.00 price target for the company. Susquehanna boosted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a positive rating in a research report on Wednesday, April 10th. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Finally, Citigroup downgraded QUALCOMM from a buy rating to a neutral rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Down 0.3 %

QCOM traded down $0.46 during midday 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. 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’s 50-day moving average is $167.69 and its 200-day moving average is $146.59. QUALCOMM has a 1 year low of $101.47 and a 1 year high of $183.19. The firm has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, research analysts expect that QUALCOMM will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Transactions at QUALCOMM

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

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently made changes to their positions in QCOM. WFA Asset Management Corp purchased a new stake in QUALCOMM in the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in QUALCOMM during the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the 4th quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC raised its holdings in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

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.