QUALCOMM (NASDAQ:QCOM) PT Raised to $200.00 at Robert W. Baird

QUALCOMM (NASDAQ:QCOM) had its target price increased by Robert W. Baird from $160.00 to $200.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. Canaccord Genuity Group upped their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a report on Friday, January 19th. Mizuho upped their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, February 1st. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an in-line rating and a $177.00 price objective for the company. Finally, Piper Sandler upped their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Price Performance

Shares of QCOM opened at $179.64 on Thursday. QUALCOMM has a 52-week low of $101.47 and a 52-week high of $183.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The business’s 50 day moving average price is $167.69 and its two-hundred day moving average price is $147.08. The firm has a market cap of $200.48 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s dividend payout ratio is 43.01%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was 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 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 accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated 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 $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,260 shares of company stock valued at $7,429,728. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors have recently added to or reduced their stakes in the business. 9258 Wealth Management LLC increased its stake in QUALCOMM by 0.9% in the 1st quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock worth $1,737,000 after acquiring an additional 91 shares during the last quarter. Gould Asset Management LLC CA bought a new position in QUALCOMM in the 1st quarter worth about $226,000. WBI Investments LLC increased its stake in QUALCOMM by 50.3% in the 1st quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock worth $2,220,000 after acquiring an additional 4,387 shares during the last quarter. Team Hewins LLC increased its stake in QUALCOMM by 2.2% in the 1st quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after acquiring an additional 167 shares during the last quarter. Finally, Affinity Investment Advisors LLC increased its stake in QUALCOMM by 4.2% in the 1st quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock worth $1,692,000 after acquiring an additional 400 shares during 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.