Mizuho Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $180.00

QUALCOMM (NASDAQ:QCOM) had its price target upped by Mizuho from $160.00 to $180.00 in a report released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the wireless technology company’s stock.

QCOM has been the topic of several other reports. KeyCorp boosted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an overweight rating in a report on Monday, April 8th. Cantor Fitzgerald boosted their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a report on Monday, April 8th. Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an in-line rating and a $177.00 target price on the stock. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a report on Friday, January 19th. Finally, Robert W. Baird upped their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an outperform rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Stock Down 0.3 %

Shares of QCOM opened at $179.64 on Thursday. The company has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM has a one year low of $101.47 and a one year high of $183.19. The business’s 50 day simple moving average is $167.69 and its 200-day simple moving average is $147.08.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. 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 is 43.01%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock valued at $7,429,728 in the last 90 days. 0.08% of the stock is owned by company insiders.

Institutional Trading of QUALCOMM

Hedge funds and other institutional investors have recently modified their holdings of the company. Peoples Bank OH acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $219,000. HF Advisory Group LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at about $629,000. Bank Hapoalim BM raised its stake in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the period. NewEdge Wealth LLC raised its stake in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares during the period. Finally, 1834 Investment Advisors Co. raised its stake in shares of QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after purchasing an additional 2,818 shares during the period. Institutional investors and hedge funds 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.