QUALCOMM (NASDAQ:QCOM) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.

A number of other brokerages also recently weighed in on QCOM. Mizuho increased their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a buy rating in a report on Thursday, February 1st. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an in-line rating and a $177.00 price target on the stock. Barclays raised their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Piper Sandler boosted their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 1st. Finally, TD Cowen raised 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Price Performance

NASDAQ QCOM opened at $179.64 on Tuesday. The stock has a 50-day simple moving average of $167.20 and a 200 day simple moving average of $146.11. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $183.19. The stock has a market capitalization of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Research analysts anticipate that QUALCOMM will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

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

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, 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 accessible through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The shares were 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 owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Large investors have recently bought and sold shares of the business. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the fourth quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC raised its position in 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 buying an additional 115 shares during the last quarter. 74.35% of the stock is 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.