Wolfe Research Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $200.00

QUALCOMM (NASDAQ:QCOM) had its price target increased by Wolfe Research from $180.00 to $200.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the wireless technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America boosted their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a buy rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an overweight rating on the stock in a research note on Thursday, February 1st. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a positive rating in a research report on Wednesday, April 10th. Robert W. Baird upped their price target on QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. Finally, StockNews.com upgraded QUALCOMM from a buy rating to a strong-buy rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Price Performance

QCOM stock traded down $0.46 during midday trading on Thursday, reaching $179.64. 10,043,912 shares of the stock were exchanged, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The stock has a market capitalization of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33. QUALCOMM has a 52 week low of $101.47 and a 52 week high of $183.19. The company has a fifty day moving average price of $167.69 and a 200 day moving average price of $146.59.

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

QUALCOMM Increases Dividend

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

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,260 shares of company stock worth $7,429,728. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

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