QUALCOMM (NASDAQ:QCOM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for QUALCOMM (NASDAQ:QCOM) from $190.00 to $200.00, indicating a potential upside of 26.26% from the current price.
• While JPMorgan holds an "overweight" rating on QUALCOMM, other firms like TD Cowen and Bank of America have set lower price targets, with Bank of America lowering theirs to $200.00.
• QUALCOMM's recent earnings report showed an EPS of $2.85, beating analysts' estimates, with a 17.0% revenue increase year-over-year.

QUALCOMM (NASDAQ:QCOM - Free Report) had its price target raised by JPMorgan Chase & Co. from $190.00 to $200.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the wireless technology company's stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Evercore ISI dropped their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $181.91.

QUALCOMM Trading Down 7.5%

NASDAQ:QCOM traded down $11.92 during mid-day trading on Monday, hitting $147.14. 16,845,764 shares of the stock traded hands, compared to its average volume of 8,454,478. The stock has a market capitalization of $161.56 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 2.08 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM has a 52 week low of $120.80 and a 52 week high of $182.10. The firm's 50 day moving average is $155.06 and its two-hundred day moving average is $155.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. QUALCOMM's revenue for the quarter was up 10.4% 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.42%. QUALCOMM's payout ratio is presently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,310,735 over the last 90 days. Insiders own 0.08% of the company's stock.

Institutional Trading of QUALCOMM

Several large investors have recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. Finally, Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

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.