QUALCOMM (NASDAQ:QCOM) Price Target Raised to $190.00 at HSBC

QUALCOMM (NASDAQ:QCOM) had its price target upped by HSBC from $170.00 to $190.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

QCOM has been the topic of several other research reports. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an in-line rating and a $177.00 price target on the stock. TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Citigroup lowered QUALCOMM from a buy rating to a neutral rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. Mizuho increased their target price on QUALCOMM from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, February 1st. Finally, Canaccord Genuity Group increased their target price on QUALCOMM from $152.00 to $175.00 and gave the company a buy rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of Moderate Buy and a consensus price target of $160.68.

QUALCOMM Trading Down 2.0 %

QCOM stock opened at $165.85 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a market cap of $185.09 billion, a P/E ratio of 24.04, a PEG ratio of 2.27 and a beta of 1.41. The business has a fifty day moving average of $166.45 and a 200-day moving average of $145.75.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts expect that QUALCOMM will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Legacy Financial Group LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $32,000. 74.35% of the stock is currently owned by institutional investors.

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.