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 research note released on Thursday, Benzinga reports. They currently have an outperform rating on the wireless technology company’s stock.

Other research analysts have also recently issued reports about the company. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an in-line rating and a $177.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $173.00 to $170.00 and set an overweight rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, February 1st. HSBC boosted their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, StockNews.com upgraded QUALCOMM from a buy rating to a strong-buy rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Trading Down 0.3 %

QCOM stock opened at $179.64 on Thursday. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. QUALCOMM has a 12-month low of $101.47 and a 12-month high of $183.19. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The business’s 50-day moving average is $167.69 and its 200 day moving average is $147.08.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 43.01%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM 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 in the company, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock valued at $7,429,728 over the last quarter. 0.08% of the stock is owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the stock. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. boosted its stake in 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 acquiring an additional 157 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $32,000. Finally, Cherry Tree Wealth Management LLC boosted its stake in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds 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.