QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $200.00 at Benchmark

QUALCOMM (NASDAQ:QCOM - Free Report) had its price objective trimmed by Benchmark from $240.00 to $200.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the wireless technology company's stock.

Several other equities analysts have also recently issued reports on QCOM. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Citigroup cut their price objective on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $193.32.

QUALCOMM Price Performance

QUALCOMM stock traded up $4.60 during mid-day trading on Thursday, reaching $139.81. The company had a trading volume of 13,180,073 shares, compared to its average volume of 8,888,774. The business has a fifty day simple moving average of $147.74 and a 200 day simple moving average of $158.53. The company has a market cap of $154.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that QUALCOMM will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.55%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,266 shares of company stock valued at $5,267,436 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

A number of large investors have recently bought and sold shares of the company. Norges Bank bought a new position in QUALCOMM in the 4th quarter worth approximately $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM in the fourth quarter valued at $527,053,000. GAMMA Investing LLC raised its stake in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the period. Finally, Northern Trust Corp lifted its holdings in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. 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.