QUALCOMM (NASDAQ:QCOM) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report report published on Tuesday,Benzinga reports. They currently have a $225.00 price target on the wireless technology company’s stock.

Several other equities analysts have also weighed in on the stock. Susquehanna boosted their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Piper Sandler decreased their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, July 31st. Citigroup restated a “hold” rating on shares of QUALCOMM in a report on Thursday, July 17th. Arete upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a report on Tuesday, August 26th. Finally, Arete Research set a $200.00 price objective on shares of QUALCOMM in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.95.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $181.03 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The firm has a market capitalization of $195.33 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.72 and a beta of 1.23. The company’s 50-day moving average is $164.47 and its two-hundred day moving average is $155.83. QUALCOMM has a 1-year low of $120.80 and a 1-year high of $205.95.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. QUALCOMM’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.33 EPS. Analysts forecast that QUALCOMM will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

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

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the sale, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at $6,067,998.46. This represents a 18.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 168,102 shares of company stock worth $27,706,855 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently modified their holdings of QCOM. Brighton Jones LLC increased its position in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after purchasing an additional 340 shares during the last quarter. Golden State Wealth Management LLC increased its position in shares of QUALCOMM by 24.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,457 shares of the wireless technology company’s stock valued at $685,000 after purchasing an additional 885 shares during the last quarter. Ameritas Advisory Services LLC increased its position in shares of QUALCOMM by 2.9% in the 1st quarter. Ameritas Advisory Services LLC now owns 12,228 shares of the wireless technology company’s stock valued at $1,878,000 after purchasing an additional 350 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its position in shares of QUALCOMM by 2.0% in the 1st quarter. Koshinski Asset Management Inc. now owns 11,013 shares of the wireless technology company’s stock valued at $1,692,000 after purchasing an additional 212 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

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.