Wolfe Research Increases QUALCOMM (NASDAQ:QCOM) Price Target to $200.00

QUALCOMM (NASDAQ:QCOM) had its price target increased by Wolfe Research from $180.00 to $200.00 in a research report sent to investors on Thursday, Benzinga reports. Wolfe Research currently has an outperform rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an overweight rating for the company in a report on Thursday, February 1st. Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an overweight rating in a report on Thursday, February 1st. Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, February 1st. Robert W. Baird raised their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an outperform rating in a report on Thursday. Finally, Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Price Performance

QCOM stock traded down $0.46 during midday trading on Thursday, hitting $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $183.19. The company has a 50 day moving average of $167.69 and a two-hundred day moving average of $146.59. The firm 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.

QUALCOMM (NASDAQ:QCOM) last issued its 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. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, analysts expect that QUALCOMM will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,260 shares of company stock worth $7,429,728. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 1,909,025 shares during the last quarter. Morgan Stanley boosted its position in QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after purchasing an additional 438,660 shares in the last quarter. Norges Bank bought a new stake in QUALCOMM during the fourth quarter valued at about $2,507,978,000. Finally, Northern Trust Corp raised its holdings in QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after purchasing an additional 415,398 shares in the last quarter. 74.35% of the stock is currently owned by 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.