QUALCOMM (NASDAQ:QCOM) Price Target Cut to $230.00 by Analysts at Susquehanna

QUALCOMM (NASDAQ:QCOM) had its price objective decreased by Susquehanna from $250.00 to $230.00 in a research report sent to investors on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the wireless technology company’s stock.

Other analysts also recently issued reports about the company. Robert W. Baird boosted their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Cantor Fitzgerald decreased their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $207.92.

QUALCOMM Stock Performance

Shares of QCOM opened at $169.01 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a 50 day moving average price of $169.24 and a 200 day moving average price of $182.25. The company has a market capitalization of $188.62 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 1.79 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $9.23 billion. Research analysts predict that QUALCOMM will post 8.02 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the business’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 $36,912,913.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction 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 $36,912,913.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,245 shares of company stock valued at $3,679,407. 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 bought and sold shares of the stock. Eastern Bank increased its position in QUALCOMM by 769.3% during the third quarter. Eastern Bank now owns 9,667 shares of the wireless technology company’s stock worth $1,644,000 after buying an additional 8,555 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in QUALCOMM by 11.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 107,807 shares of the wireless technology company’s stock valued at $18,333,000 after purchasing an additional 10,646 shares during the last quarter. Mattern Wealth Management LLC lifted its holdings in QUALCOMM by 5.6% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,544 shares of the wireless technology company’s stock valued at $263,000 after purchasing an additional 82 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of QUALCOMM by 11.8% during the third quarter. Oakworth Capital Inc. now owns 3,833 shares of the wireless technology company’s stock worth $652,000 after buying an additional 406 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of QUALCOMM by 28.6% in the third quarter. Foundations Investment Advisors LLC now owns 13,582 shares of the wireless technology company’s stock valued at $2,310,000 after buying an additional 3,023 shares during the last quarter. 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.