QUALCOMM (NASDAQ:QCOM) Price Target Increased to $185.00 by Analysts at Piper Sandler

QUALCOMM (NASDAQ:QCOM) had its target price increased by Piper Sandler from $165.00 to $185.00 in a report published on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the wireless technology company’s stock.

A number of other analysts have also recently weighed in on QCOM. Barclays upped their price target on QUALCOMM from $155.00 to $185.00 and gave the company an overweight rating in a research report on Thursday. Evercore ISI began coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an in-line rating and a $177.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a report on Thursday. Robert W. Baird upped their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday. Finally, TD Cowen lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has an average rating of Moderate Buy and a consensus target price of $179.36.

QUALCOMM Trading Down 0.3 %

QCOM stock opened at $179.64 on Thursday. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $183.19. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $167.69 and its 200-day moving average is $147.08. The firm has a market cap of $200.48 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock valued at $7,429,728 in the last quarter. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently added to or reduced their stakes in the company. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the first quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. boosted its position in 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 last quarter. Richardson Capital Management LLC bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $32,000. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares in the last quarter. 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.