QUALCOMM (NASDAQ:QCOM) PT Lowered to $230.00 at Susquehanna

QUALCOMM (NASDAQ:QCOM) had its price target decreased by Susquehanna from $250.00 to $230.00 in a report released on Monday, Benzinga reports. Susquehanna currently has a positive rating on the wireless technology company’s stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company boosted their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a research note on Thursday, August 1st. Citigroup dropped their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Cantor Fitzgerald lowered their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $207.92.

QUALCOMM Trading Up 0.9 %

Shares of QCOM stock opened at $168.10 on Monday. The stock has a 50 day simple moving average of $169.30 and a 200-day simple moving average of $182.15. QUALCOMM has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a market cap of $187.26 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities research analysts expect that QUALCOMM will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s payout ratio is 44.04%.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,245 shares of company stock worth $3,679,407 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Matrix Capital Management Company LP acquired a new stake in QUALCOMM in the first quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA increased its holdings in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after acquiring an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp raised its position in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Finally, Maj Invest Holding A S purchased a new stake in QUALCOMM during the third quarter worth approximately $229,078,000. 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.