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

QUALCOMM (NASDAQ:QCOM) had its price objective hoisted by HSBC from $170.00 to $190.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the wireless technology company’s stock.

A number of other analysts have also recently issued reports on the company. StockNews.com cut QUALCOMM from a strong-buy rating to a buy rating in a research report on Thursday, March 7th. TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Barclays raised their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an in-line rating and a $177.00 target price for the company. Finally, Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $179.36.

QUALCOMM Stock Down 0.3 %

QUALCOMM stock traded down $0.46 during mid-day trading on Tuesday, hitting $179.64. The company had a trading volume of 10,041,403 shares, compared to its average volume of 8,755,839. 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 1 year low of $101.47 and a 1 year high of $183.19. The business has a fifty day moving average of $167.20 and a 200 day moving average of $146.11. The stock has a market cap of $200.48 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.25 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 38.24%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts expect that QUALCOMM will post 7.64 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 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 49.28%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QUALCOMM

Large investors have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. raised its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. Legacy Financial Group LLC acquired a new stake in QUALCOMM during the 3rd quarter worth about $29,000. CarsonAllaria Wealth Management Ltd. lifted its stake in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM in the fourth quarter worth approximately $32,000. 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.