QUALCOMM (NASDAQ:QCOM) Given New $210.00 Price Target at JPMorgan Chase & Co.

by · The Markets Daily

QUALCOMM (NASDAQ:QCOM – Free Report) had its price objective lowered by JPMorgan Chase & Co. from $230.00 to $210.00 in a research note published on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the wireless technology company’s stock.

QCOM has been the subject of several other research reports. Westpark Capital restated a hold rating on shares of QUALCOMM in a report on Tuesday, July 30th. HSBC downgraded shares of QUALCOMM from a buy rating to a hold rating and set a $200.00 price objective for the company. in a research note on Wednesday, July 17th. Wells Fargo & Company lifted their target price on QUALCOMM from $140.00 to $170.00 and gave the stock an underweight rating in a research report on Thursday, August 1st. TD Cowen raised QUALCOMM to a strong-buy rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on QUALCOMM from $155.00 to $170.00 and gave the company a hold rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $211.67.

Get Our Latest Analysis on QCOM

QUALCOMM Price Performance

QCOM stock opened at $168.92 on Tuesday. The business’s 50-day moving average is $172.52 and its two-hundred day moving average is $182.01. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The firm has a market capitalization of $188.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28. QUALCOMM has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Analysts anticipate that QUALCOMM will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.01%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 in the last quarter. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. HWG Holdings LP acquired a new position in QUALCOMM in the 2nd quarter worth $30,000. Financial Connections Group Inc. acquired a new position in QUALCOMM in the 2nd quarter worth $32,000. Aspect Partners LLC boosted its position in QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM during the first quarter valued at about $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Company Profile

(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.

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