Piper Sandler Boosts QUALCOMM (NASDAQ:QCOM) Price Target to $185.00

QUALCOMM (NASDAQ:QCOM) had its price objective raised by Piper Sandler from $165.00 to $185.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the wireless technology company’s stock.

Other equities analysts have also issued reports about the company. Bank of America increased their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a buy rating in a research report on Thursday. StockNews.com upgraded shares of QUALCOMM from a buy rating to a strong-buy rating in a report on Tuesday, April 30th. TD Cowen boosted 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 reaffirmed a neutral rating and set a $190.00 price objective on shares of QUALCOMM in a research note on Thursday. Finally, Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a buy rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of Moderate Buy and an average target price of $179.36.

QUALCOMM Price Performance

NASDAQ QCOM traded down $0.46 during trading on Thursday, reaching $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The stock has a market capitalization of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33. 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 firm has a fifty day moving average of $167.69 and a 200 day moving average of $146.59. QUALCOMM has a one year low of $101.47 and a one year high of $183.19.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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 business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Analysts expect that QUALCOMM will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s payout ratio is 43.01%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock valued at $7,429,728 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QUALCOMM

Several hedge funds have recently bought and sold shares of the business. Grandview Asset Management LLC raised its position in shares of QUALCOMM by 2.3% in the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. raised its holdings in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after acquiring an additional 63 shares in the last quarter. VERITY Wealth Advisors lifted its position in QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after purchasing an additional 64 shares during the period. SlateStone Wealth LLC raised its stake in shares of QUALCOMM by 1.7% in the 1st quarter. SlateStone Wealth LLC now owns 3,874 shares of the wireless technology company’s stock valued at $656,000 after buying an additional 65 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after acquiring an additional 66 shares during the period. 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.