QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $190.00 at Raymond James

QUALCOMM (NASDAQ:QCOMGet Rating) had its price target trimmed by Raymond James from $222.00 to $190.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a maintains rating on the wireless technology company’s stock.

A number of other research firms have also commented on QCOM. Barclays decreased their price objective on QUALCOMM from $185.00 to $160.00 and set an equal weight rating on the stock in a research note on Monday, April 25th. StockNews.com raised QUALCOMM from a buy rating to a strong-buy rating in a research note on Tuesday, July 19th. Susquehanna Bancshares decreased their price objective on QUALCOMM from $190.00 to $165.00 in a research note on Thursday, April 28th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $205.00 to $185.00 and set an overweight rating on the stock in a research note on Thursday, July 14th. Finally, Tigress Financial increased their price objective on QUALCOMM from $195.00 to $238.00 in a research note on Thursday, May 5th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of Moderate Buy and a consensus price target of $191.69.

QUALCOMM Stock Down 0.9 %

QUALCOMM stock opened at $145.06 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.61. The firm has a market capitalization of $162.47 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. QUALCOMM has a fifty-two week low of $118.22 and a fifty-two week high of $193.58. The stock’s fifty day moving average is $135.71 and its two-hundred day moving average is $148.03.

QUALCOMM (NASDAQ:QCOMGet Rating) last posted its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.44. The company had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. QUALCOMM’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 earnings per share. Analysts predict that QUALCOMM will post 11.05 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.00 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s payout ratio is currently 30.71%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of hedge funds have recently bought and sold shares of the business. Kingfisher Capital LLC grew its stake in QUALCOMM by 8.4% during the 2nd quarter. Kingfisher Capital LLC now owns 33,942 shares of the wireless technology company’s stock valued at $4,336,000 after purchasing an additional 2,636 shares in the last quarter. Oak Family Advisors LLC grew its stake in QUALCOMM by 8.4% during the 2nd quarter. Oak Family Advisors LLC now owns 60,542 shares of the wireless technology company’s stock valued at $7,734,000 after purchasing an additional 4,685 shares in the last quarter. Destination Wealth Management grew its stake in QUALCOMM by 0.3% during the 2nd quarter. Destination Wealth Management now owns 176,654 shares of the wireless technology company’s stock valued at $22,566,000 after purchasing an additional 485 shares in the last quarter. Todd Asset Management LLC grew its stake in QUALCOMM by 4.3% during the 2nd quarter. Todd Asset Management LLC now owns 450,320 shares of the wireless technology company’s stock valued at $57,524,000 after purchasing an additional 18,601 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC grew its position in shares of QUALCOMM by 34.0% in the 2nd quarter. Kiley Juergens Wealth Management LLC now owns 18,974 shares of the wireless technology company’s stock worth $2,423,000 after acquiring an additional 4,818 shares in the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.

QUALCOMM Company Profile

(Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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