QUALCOMM's (QCOM) "Buy" Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of QUALCOMM (NASDAQ:QCOM - Free Report) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $225.00 target price on the wireless technology company's stock.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark restated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $193.32.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $4.60 on Thursday, reaching $139.81. The stock had a trading volume of 13,180,073 shares, compared to its average volume of 8,888,774. The stock has a market cap of $154.63 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM has a 12-month low of $120.80 and a 12-month high of $230.63. The business's 50-day moving average price is $147.74 and its 200 day moving average price is $158.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities analysts expect that QUALCOMM will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.55%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,266 shares of company stock worth $5,267,436 in the last ninety days. 0.08% of the stock is owned by insiders.

Institutional Trading of QUALCOMM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after buying an additional 707,468 shares during the period. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after buying an additional 670,432 shares in the last quarter. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi increased its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. 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.