Cantor Fitzgerald Reiterates Neutral Rating for QUALCOMM (NASDAQ:QCOM)

Cantor Fitzgerald reissued their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note released on Thursday morning, Benzinga reports. They currently have a $190.00 target price on the wireless technology company’s stock.

QCOM has been the topic of several other reports. Wolfe Research lifted their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. Morgan Stanley increased their target price on QUALCOMM from $158.00 to $172.00 and gave the stock an equal weight rating in a report on Thursday. Benchmark assumed coverage on QUALCOMM in a research note on Tuesday, April 23rd. They issued a buy rating and a $200.00 price target on the stock. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $173.00 to $170.00 and set an overweight rating for the company in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $0.46 during trading on Thursday, hitting $179.64. 10,043,912 shares of the stock were exchanged, compared to its average volume of 8,171,053. The company has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $183.19. The company’s fifty day simple moving average is $167.69 and its 200-day simple moving average is $146.59.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. 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%. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock worth $7,429,728 in the last quarter. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in QUALCOMM in the fourth quarter valued at about $2,507,978,000. International Assets Investment Management LLC grew its position in shares of QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. grew its position in shares of QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Finally, Barclays PLC lifted its stake in QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after buying an additional 1,842,868 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.