Shares of QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) rose 9.3% during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $180.00 to $206.00. Canaccord Genuity Group currently has a buy rating on the stock. QUALCOMM traded as high as $181.25 and last traded at $179.33. Approximately 9,904,666 shares changed hands during trading, an increase of 16% from the average daily volume of 8,539,530 shares. The stock had previously closed at $164.11.
Several other research analysts also recently commented on QCOM. Citigroup boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a "neutral" rating in a research note on Thursday. Barclays lifted their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, February 1st. StockNews.com upgraded QUALCOMM from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Benchmark assumed coverage on QUALCOMM in a research report on Tuesday, April 23rd. They set a "buy" rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $179.36.
Get Our Latest Report on QCOM
Insider Activity
In other news, CAO Neil Martin sold 371 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The sale 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 firm's stock in a transaction on Wednesday, February 21st. The stock was 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 owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On QUALCOMM
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Grandview Asset Management LLC lifted its position in QUALCOMM by 2.3% in the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company's stock valued at $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. increased its holdings in QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company's stock valued at $1,676,000 after buying an additional 63 shares in the last quarter. VERITY Wealth Advisors boosted its holdings in shares of QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company's stock valued at $1,320,000 after purchasing an additional 64 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in shares of QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company's stock valued at $656,000 after purchasing an additional 65 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company's stock valued at $831,000 after acquiring an additional 66 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.
QUALCOMM Price Performance
The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The business's fifty day simple moving average is $166.69 and its 200 day simple moving average is $145.87. The stock has a market cap of $200.99 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Research analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.
QUALCOMM Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's dividend payout ratio is 46.38%.
About QUALCOMM
(
Get Free Report)
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.
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