JPMorgan Chase & Co. Raises QUALCOMM (NASDAQ:QCOM) Price Target to $200.00

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 lifted by JPMorgan Chase & Co. from $190.00 to $200.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the wireless technology company's stock.

Several other brokerages also recently issued reports on QCOM. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Susquehanna decreased their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Loop Capital decreased their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $183.95.

QUALCOMM Trading Down 1.9%

Shares of QUALCOMM stock traded down $3.02 on Monday, hitting $159.06. 13,878,343 shares of the company's stock traded hands, compared to its average volume of 8,394,026. The firm's 50-day moving average price is $154.91 and its two-hundred day moving average price is $155.05. The stock has a market capitalization of $174.65 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.07 and a beta of 1.26. QUALCOMM has a one year low of $120.80 and a one year high of $182.10. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.68 by ($0.39). QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. On average, research analysts expect that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is 36.25%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider owned 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 a total of 424,099 shares of company stock valued at $8,310,735 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of QUALCOMM

A number of institutional investors have recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after buying an additional 70 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company's stock worth $26,000 after buying an additional 93 shares in the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter valued at about $27,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $29,000. 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.