JPMorgan Chase & Co. Lowers QUALCOMM (NASDAQ:QCOM) Price Target to $210.00

QUALCOMM (NASDAQ:QCOM) had its price target reduced by JPMorgan Chase & Co. from $230.00 to $210.00 in a research report sent to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the wireless technology company’s stock.

A number of other equities analysts also recently issued reports on the stock. TD Cowen raised shares of QUALCOMM to a strong-buy rating in a report on Monday. Rosenblatt Securities raised their price objective on QUALCOMM from $240.00 to $250.00 and gave the company a buy rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an underweight rating in a research report on Thursday, August 1st. Tigress Financial upped their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the company a buy rating in a report on Friday, June 21st. Finally, Wolfe Research cut QUALCOMM from an outperform rating to a peer perform rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $211.67.

QUALCOMM Price Performance

QCOM stock opened at $168.70 on Tuesday. The firm’s 50-day moving average price is $174.52 and its two-hundred day moving average price is $182.15. The stock has a market capitalization of $188.27 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.23 billion. As a group, equities analysts predict that QUALCOMM will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock valued at $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth about $27,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $32,000. Aspect Partners LLC boosted its position 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 purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $37,000. Hedge funds and other 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.