TD Cowen Raises QUALCOMM (NASDAQ:QCOM) Price Target to $235.00

QUALCOMM (NASDAQ:QCOMFree Report) had its target price raised by TD Cowen from $200.00 to $235.00 in a report published on Tuesday morning, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the wireless technology company’s stock.

Several other research firms have also recently weighed in on QCOM. Evercore ISI started coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an in-line rating and a $177.00 price objective on the stock. Cantor Fitzgerald restated a neutral rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. Morgan Stanley raised their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a research report on Thursday, May 2nd. Mizuho raised their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the company a buy rating in a research report on Friday, May 31st. Finally, StockNews.com cut shares of QUALCOMM from a strong-buy rating to a buy rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $188.74.

View Our Latest Analysis on QCOM

QUALCOMM Stock Down 1.2 %

Shares of NASDAQ:QCOM opened at $209.44 on Tuesday. The firm has a fifty day moving average price of $182.69 and a two-hundred day moving average price of $160.20. 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 $104.33 and a one year high of $217.43. The company has a market cap of $233.74 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.49 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Analysts anticipate that QUALCOMM will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.62%. QUALCOMM’s payout ratio is presently 45.70%.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the sale, the chief technology officer now directly owns 261,893 shares in the company, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock valued at $8,206,875. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

Hedge funds have recently bought and sold shares of the business. Peoples Bank OH bought a new stake in QUALCOMM during the fourth quarter worth about $219,000. Bank Hapoalim BM raised its holdings in QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the last quarter. NewEdge Wealth LLC raised its holdings in QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the last quarter. 1834 Investment Advisors Co. raised its holdings in QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. purchased a new position in QUALCOMM in the fourth quarter worth about $305,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Company Profile

(Get Free Report)

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.

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