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

QUALCOMM (NASDAQ:QCOMGet Rating) had its target price cut by Raymond James from $222.00 to $190.00 in a research report released on Thursday, The Fly reports. They currently have a maintains rating on the wireless technology company’s stock.

Several other equities analysts also recently weighed in on the company. Piper Sandler dropped their target price on QUALCOMM from $190.00 to $185.00 and set an overweight rating for the company in a research report on Thursday. StockNews.com raised QUALCOMM from a buy rating to a strong-buy rating in a research report on Tuesday, July 19th. KeyCorp lifted their target price on QUALCOMM from $200.00 to $220.00 in a research report on Monday, June 13th. Susquehanna Bancshares dropped their target price on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. Finally, Susquehanna lowered their price objective on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $191.69.

QUALCOMM Stock Down 0.9 %

Shares of QCOM opened at $145.06 on Thursday. The firm has a market cap of $162.47 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. QUALCOMM has a 12-month low of $118.22 and a 12-month high of $193.58. The company’s 50-day moving average price is $135.71 and its 200 day moving average price is $148.03. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.91.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.44. The firm had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. QUALCOMM’s revenue was up 36.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. On average, sell-side analysts forecast that QUALCOMM will post 11.05 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, August 31st. QUALCOMM’s dividend 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 business’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 value of $197,653.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently modified their holdings of QCOM. Norges Bank purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,266,923,000. Cowa LLC purchased a new stake in shares of QUALCOMM during the first quarter worth approximately $94,000. BlackRock Inc. grew its holdings in QUALCOMM by 4.3% during the fourth quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company’s stock worth $14,881,876,000 after acquiring an additional 3,319,939 shares during the period. Capital International Investors grew its holdings in QUALCOMM by 63.2% during the fourth quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company’s stock worth $1,251,413,000 after acquiring an additional 2,648,829 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in QUALCOMM by 37.2% during the fourth quarter. Nuveen Asset Management LLC now owns 8,468,283 shares of the wireless technology company’s stock worth $1,548,596,000 after acquiring an additional 2,294,400 shares during the period. Hedge funds and other institutional investors own 73.61% of the company’s stock.

About QUALCOMM

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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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