QUALCOMM (NASDAQ:QCOM) Price Target Raised to $200.00 at Robert W. Baird

QUALCOMM (NASDAQ:QCOM) had its price objective upped by Robert W. Baird from $160.00 to $200.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the wireless technology company’s stock.

Several other research analysts also recently commented on QCOM. TD Cowen lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research note on Friday, January 19th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $173.00 to $170.00 and set an overweight rating on the stock in a report on Thursday, February 1st. Finally, Mizuho increased their target price on QUALCOMM from $155.00 to $160.00 and gave the company a buy rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Price Performance

NASDAQ QCOM traded down $0.46 during trading hours on Thursday, reaching $179.64. 10,043,912 shares of the stock traded hands, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The stock has a 50 day simple moving average of $167.69 and a two-hundred day simple moving average of $146.59. QUALCOMM has a 1 year low of $101.47 and a 1 year high of $183.19. The company has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, analysts predict that QUALCOMM will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated 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 directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock worth $7,429,728 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of QUALCOMM in the 4th quarter worth $2,507,978,000. International Assets Investment Management LLC lifted its position in QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD raised its stake in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Finally, Barclays PLC lifted its holdings in QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after purchasing an additional 1,842,868 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.