QUALCOMM Incorporated (NASDAQ:QCOM) Receives $158.86 Average Price Target from Analysts

QUALCOMM Incorporated (NASDAQ:QCOM) has earned a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $160.68.

Several research analysts have recently issued reports on QCOM shares. Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Canaccord Genuity Group lifted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. JPMorgan Chase & Co. lowered their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Piper Sandler raised their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st.

QUALCOMM Stock Down 2.0 %

QCOM stock opened at $165.85 on Friday. The company has a market capitalization of $185.09 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. 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 50 day moving average price is $166.45 and its two-hundred day moving average price is $145.75. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. As a group, analysts forecast that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’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 transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in QUALCOMM during the first quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC lifted its holdings in shares of QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.