QUALCOMM (NASDAQ:QCOM) Upgraded to Buy at DZ Bank

DZ Bank upgraded shares of QUALCOMM (NASDAQ:QCOM) from a hold rating to a buy rating in a research report report published on Friday, Marketbeat.com reports. DZ Bank currently has $210.00 price target on the wireless technology company’s stock.

Other equities research analysts have also issued research reports about the company. TD Cowen increased their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a neutral rating in a research report on Monday, July 15th. Wells Fargo & Company raised their price objective on QUALCOMM from $140.00 to $170.00 and gave the company an underweight rating in a research report on Thursday. StockNews.com lowered QUALCOMM from a strong-buy rating to a buy rating in a research report on Wednesday, May 8th. Finally, Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a buy rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of Moderate Buy and an average price target of $210.63.

QUALCOMM Price Performance

QCOM stock traded down $4.69 during trading on Friday, reaching $159.31. The company’s stock had a trading volume of 16,618,860 shares, compared to its average volume of 9,984,102. QUALCOMM has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $177.47 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The company’s fifty day moving average is $200.91 and its 200-day moving average is $178.05.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, research analysts expect that QUALCOMM will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity

In other news, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,129 shares of company stock valued at $6,730,436. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $2,507,978,000. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM during the first quarter valued at $1,171,516,000. Price T Rowe Associates Inc. MD grew its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of QUALCOMM during the first quarter valued at $238,770,000. 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.