Loop Capital Cuts QUALCOMM (NASDAQ:QCOM) Price Target to $155.00

QUALCOMM (NASDAQ:QCOM) had its price target decreased by Loop Capital from $180.00 to $155.00 in a research report report published on Thursday,Benzinga reports. Loop Capital currently has a hold rating on the wireless technology company’s stock.

Other analysts have also recently issued reports about the stock. Robert W. Baird decreased their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $192.58.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $139.81 on Thursday. The stock has a market cap of $154.63 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM has a 1 year low of $120.80 and a 1 year high of $230.63. The firm has a fifty day moving average price of $147.74 and a 200-day moving average price of $158.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 EPS. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.55%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,266 shares of company stock valued at $5,267,436. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB grew its stake in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after acquiring an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $2,058,000. Burney Co. raised its position in shares of QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in QUALCOMM in the 4th quarter valued at $240,000. 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.