QUALCOMM’s (QCOM) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Thursday morning,Benzinga reports. They currently have a $150.00 price objective on the wireless technology company’s stock.

Several other analysts have also issued reports on QCOM. Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and a consensus target price of $192.58.

QUALCOMM Trading Up 3.4 %

NASDAQ QCOM opened at $139.81 on Thursday. The business’s fifty day moving average is $147.74 and its 200-day moving average is $158.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $154.63 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts predict that QUALCOMM will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,266 shares of company stock valued at $5,267,436. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds and other institutional investors have recently made changes to their positions in the business. Independent Wealth Network Inc. boosted its holdings in QUALCOMM by 58.4% in the first quarter. Independent Wealth Network Inc. now owns 2,180 shares of the wireless technology company’s stock valued at $335,000 after acquiring an additional 804 shares in the last quarter. Hardy Reed LLC lifted its position in shares of QUALCOMM by 1.7% in the 1st quarter. Hardy Reed LLC now owns 7,953 shares of the wireless technology company’s stock worth $1,222,000 after purchasing an additional 134 shares during the period. Richard C. Young & CO. LTD. boosted its stake in shares of QUALCOMM by 6.8% during the 1st quarter. Richard C. Young & CO. LTD. now owns 31,921 shares of the wireless technology company’s stock valued at $4,903,000 after purchasing an additional 2,019 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of QUALCOMM by 24.0% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 660,574 shares of the wireless technology company’s stock valued at $101,471,000 after buying an additional 127,789 shares during the period. Finally, Forum Financial Management LP raised its stake in QUALCOMM by 43.6% in the first quarter. Forum Financial Management LP now owns 10,653 shares of the wireless technology company’s stock worth $1,636,000 after buying an additional 3,236 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

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.