QUALCOMM (NASDAQ:QCOM) Price Target Raised to $170.00 at Citigroup

QUALCOMM (NASDAQ:QCOM - Free Report) had its price objective increased by Citigroup from $160.00 to $170.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the wireless technology company's stock.

A number of other analysts also recently weighed in on QCOM. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a report on Friday, January 19th. Wolfe Research boosted their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an outperform rating in a research report on Thursday. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an overweight rating in a research note on Monday, April 8th. HSBC upped their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Benchmark assumed coverage on QUALCOMM in a research report on Tuesday, April 23rd. They issued a buy rating and a $200.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has a consensus rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Price Performance

NASDAQ QCOM traded up $15.99 during midday trading on Thursday, hitting $180.10. The company had a trading volume of 25,880,542 shares, compared to its average volume of 8,740,455. The firm has a 50-day moving average price of $167.20 and a 200-day moving average price of $146.11. The company has a market capitalization of $200.99 billion, a PE ratio of 26.10, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $181.69.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts anticipate that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM's dividend payout ratio is currently 46.38%.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares of the company's stock, valued at $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 over the last three months. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several hedge funds and other institutional investors have recently bought and sold shares of QCOM. First Command Advisory Services Inc. increased its position in QUALCOMM by 26.9% in the 1st quarter. First Command Advisory Services Inc. now owns 1,733 shares of the wireless technology company's stock valued at $293,000 after buying an additional 367 shares in the last quarter. USAdvisors Wealth Management LLC bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $211,000. Peregrine Asset Advisers Inc. acquired a new position in shares of QUALCOMM during the first quarter worth approximately $2,337,000. Chase Investment Counsel Corp lifted its holdings in shares of QUALCOMM by 301.7% in the 1st quarter. Chase Investment Counsel Corp now owns 11,574 shares of the wireless technology company's stock worth $1,959,000 after purchasing an additional 8,693 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its position in QUALCOMM by 1.4% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 53,213 shares of the wireless technology company's stock valued at $9,009,000 after purchasing an additional 732 shares during the period. 74.35% of the stock is 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.