QUALCOMM (NASDAQ:QCOM) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

QCOM has been the topic of several other reports. Susquehanna increased their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a positive rating in a research note on Wednesday, July 17th. Bank of America lifted their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a buy rating in a research note on Friday, May 31st. Canaccord Genuity Group boosted their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Argus raised their price target on QUALCOMM from $180.00 to $205.00 and gave the company a buy rating in a report on Tuesday, May 7th. Finally, Westpark Capital reissued a hold rating on shares of QUALCOMM in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $210.63.

QUALCOMM Trading Down 0.7 %

Shares of QCOM opened at $172.18 on Tuesday. The business’s 50-day moving average price is $192.28 and its 200-day moving average price is $179.12. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The stock has a market cap of $192.15 billion, a PE ratio of 23.14, a P/E/G ratio of 1.81 and a beta of 1.27.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,185 shares of company stock valued at $4,332,134. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of QUALCOMM by 8.1% in 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 period. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter worth about $2,507,978,000. Legal & General Group Plc boosted its position in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Finally, Putnam Investments LLC raised its position in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after acquiring an additional 263,482 shares in the last quarter. Hedge funds and other institutional investors 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.