QUALCOMM (NASDAQ:QCOM) Given New $190.00 Price Target at Piper Sandler

QUALCOMM (NASDAQ:QCOM) had its price target reduced by Piper Sandler from $205.00 to $190.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the wireless technology company’s stock.

Several other analysts have also issued reports on QCOM. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Citigroup dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Susquehanna reduced their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

QCOM opened at $169.32 on Thursday. QUALCOMM has a fifty-two week low of $143.63 and a fifty-two week high of $230.63. The firm has a 50-day moving average of $161.70 and a 200 day moving average of $166.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $188.11 billion, a P/E ratio of 18.83, a PEG ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts expect that QUALCOMM will post 9.16 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the 4th quarter worth $29,000. Finally, Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

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.