QUALCOMM (NASDAQ:QCOM) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of QUALCOMM (NASDAQ:QCOM) to a strong-buy rating in a research report sent to investors on Monday, Zacks.com reports.

QCOM has been the topic of a number of other research reports. Hsbc Global Res lowered QUALCOMM from a strong-buy rating to a hold rating in a report on Wednesday, July 17th. Barclays upped their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an overweight rating in a research note on Thursday, August 1st. Citigroup boosted their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the stock a neutral rating in a report on Monday, July 15th. Robert W. Baird increased their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the stock an underweight rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $211.67.

QUALCOMM Stock Performance

Shares of QCOM opened at $168.30 on Monday. The company has a market capitalization of $187.82 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. QUALCOMM has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average price of $173.71 and a 200 day moving average price of $182.05.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $9.23 billion. Research analysts predict that QUALCOMM will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on 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 directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the company’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 value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. HWG Holdings LP bought a new position in QUALCOMM in the second quarter valued at approximately $30,000. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the first quarter worth $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC lifted its stake in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its stake in QUALCOMM by 43.2% in the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

About QUALCOMM

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.