StockNews.com upgraded shares of QUALCOMM (NASDAQ:QCOM – Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.
Several other brokerages have also recently issued reports on QCOM. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Robert W. Baird raised their price objective on QUALCOMM from $200.00 to $250.00 and gave the company an outperform rating in a research report on Tuesday, July 23rd. Piper Sandler reiterated an overweight rating and issued a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Hsbc Global Res cut shares of QUALCOMM from a strong-buy rating to a hold rating in a report on Wednesday, July 17th. Finally, Westpark Capital reiterated a hold rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $211.67.
View Our Latest Analysis on QUALCOMM
QUALCOMM Price Performance
QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. On average, equities research analysts anticipate that QUALCOMM will post 8 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.
Insider Activity
In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Insiders own 0.08% of the company’s stock.
Institutional Trading of QUALCOMM
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter valued at about $27,000. HWG Holdings LP acquired a new stake in QUALCOMM in the second quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at approximately $32,000. Aspect Partners LLC raised its stake in shares of QUALCOMM by 71.8% during the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares during the period. Finally, Richardson Capital Management LLC purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds 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.
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