QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $195.00 at JPMorgan Chase & Co.

by · The Markets Daily

QUALCOMM (NASDAQ:QCOM – Free Report) had its price objective lowered by JPMorgan Chase & Co. from $210.00 to $195.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the wireless technology company’s stock.

Several other research firms have also commented on QCOM. Robert W. Baird raised their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, July 17th. Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.16.

Check Out Our Latest Stock Report on QUALCOMM

QUALCOMM Stock Down 0.0 %

Shares of QCOM stock opened at $172.91 on Tuesday. The stock’s 50-day simple moving average is $168.55 and its 200-day simple moving average is $182.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm has a market capitalization of $192.62 billion, a PE ratio of 22.40, a P/E/G ratio of 1.66 and a beta of 1.28. QUALCOMM has a fifty-two week low of $119.15 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Equities analysts expect that QUALCOMM will post 8.02 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is 44.04%.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 over the last quarter. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QCOM. Matrix Capital Management Company LP purchased a new position in QUALCOMM in the first quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA boosted its holdings in QUALCOMM by 1,778.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. International Assets Investment Management LLC lifted its holdings in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after buying an additional 2,919,490 shares during the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S purchased a new stake in QUALCOMM during the 3rd quarter worth about $229,078,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

About QUALCOMM

(Get Free Report)

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.

Recommended Stories