QUALCOMM (NASDAQ:QCOM) Price Target Cut to $210.00 by Analysts at Susquehanna

QUALCOMM (NASDAQ:QCOM) had its price target reduced by Susquehanna from $230.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a positive rating on the wireless technology company’s stock.

A number of other equities analysts also recently commented on QCOM. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Barclays lifted their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company increased their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $210.15.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $156.79 on Wednesday. The stock has a market capitalization of $174.19 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.28. QUALCOMM has a 52 week low of $125.67 and a 52 week high of $230.63. The firm has a 50-day simple moving average of $167.82 and a 200-day simple moving average of $181.58. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of hedge funds have recently bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in QUALCOMM during the second quarter valued at $30,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth $32,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% in the 2nd 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. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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.