QUALCOMM (NASDAQ:QCOM) Price Target Cut to $170.00

QUALCOMM (NASDAQ:QCOMFree Report) had its price target trimmed by JPMorgan Chase & Co. from $173.00 to $170.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. DZ Bank upgraded QUALCOMM from a hold rating to a buy rating and set a $140.00 target price for the company in a research note on Friday, November 3rd. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company a buy rating in a report on Thursday. TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a report on Thursday. Evercore ISI cut their price target on QUALCOMM from $140.00 to $135.00 in a report on Thursday, October 5th. Finally, Cantor Fitzgerald assumed coverage on QUALCOMM in a report on Tuesday, January 23rd. They issued a neutral rating and a $150.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $148.71.

Get Our Latest Stock Analysis on QUALCOMM

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $141.69 on Thursday. The business has a 50 day moving average price of $140.68 and a 200 day moving average price of $124.39. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $157.98. The company has a market cap of $158.13 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.56 and a beta of 1.42. The company has a quick ratio of 1.67, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a yield of 2.26%. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 3,098 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $130.00, for a total value of $402,740.00. Following the transaction, the chief accounting officer now directly owns 247 shares in the company, valued at approximately $32,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 3,098 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $130.00, for a total value of $402,740.00. Following the completion of the transaction, the chief accounting officer now owns 247 shares in the company, valued at $32,110. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,198 shares of company stock worth $3,077,790. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Fairfield Bush & CO. lifted its holdings in QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after acquiring an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of QUALCOMM by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares during the period. Merit Financial Group LLC raised its stake in shares of QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after purchasing an additional 555 shares during the period. NewEdge Advisors LLC raised its stake in shares of QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after purchasing an additional 8,472 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of QUALCOMM by 30.4% in the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after purchasing an additional 79,827 shares during the period. 71.10% of the stock is currently owned by institutional investors.

QUALCOMM Company Profile

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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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