Analysts Set QUALCOMM Incorporated (NASDAQ:QCOM) Price Target at $183.73

by · The Cerbat Gem

Shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $183.9545.

Several brokerages have issued reports on QCOM. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Arete Research set a $200.00 target price on QUALCOMM in a research report on Tuesday, August 26th. Piper Sandler dropped their target price on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. UBS Group set a $165.00 target price on QUALCOMM in a research report on Monday, October 27th. Finally, Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd.

Read Our Latest Research Report on QCOM

QUALCOMM Stock Up 2.1%

Shares of NASDAQ QCOM opened at $180.90 on Tuesday. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $195.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.59 and a beta of 1.23. The stock’s fifty day simple moving average is $165.85 and its two-hundred day simple moving average is $156.67. QUALCOMM has a 12-month low of $120.80 and a 12-month high of $205.95.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 EPS. As a group, analysts expect that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s dividend payout ratio is currently 34.33%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the sale, the chief financial officer owned 36,541 shares in the company, valued at approximately $6,067,998.46. This represents a 18.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Patricia Y. Grech sold 201 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $170.00, for a total value of $34,170.00. Following the sale, the chief accounting officer owned 203 shares of the company’s stock, valued at approximately $34,510. This represents a 49.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 166,502 shares of company stock worth $27,472,615. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. Harbor Capital Advisors Inc. raised its stake in QUALCOMM by 72.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 155 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 65 shares during the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in QUALCOMM by 122.4% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 70 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in QUALCOMM in the 2nd quarter worth $32,000. Finally, Harbor Asset Planning Inc. purchased a new position in QUALCOMM in the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

About QUALCOMM

(Get Free Report)

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.

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