Rosenblatt Securities Raises QUALCOMM (NASDAQ:QCOM) Price Target to $250.00

QUALCOMM (NASDAQ:QCOM) had its price target boosted by Rosenblatt Securities from $240.00 to $250.00 in a research report released on Thursday, Benzinga reports. Rosenblatt Securities currently has a buy rating on the wireless technology company’s stock.

A number of other research firms have also weighed in on QCOM. Wells Fargo & Company raised their price objective on QUALCOMM from $120.00 to $140.00 and gave the company an underweight rating in a research report on Thursday, May 2nd. Hsbc Global Res downgraded QUALCOMM from a strong-buy rating to a hold rating in a research note on Wednesday, July 17th. Morgan Stanley increased their target price on QUALCOMM from $158.00 to $172.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. Barclays increased their target price on QUALCOMM from $155.00 to $185.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Finally, KeyCorp increased their target price on QUALCOMM from $205.00 to $225.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $210.63.

QUALCOMM Stock Down 5.6 %

QCOM stock opened at $150.33 on Thursday. QUALCOMM has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market cap of $167.47 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27. The business has a 50 day moving average of $200.91 and a 200 day moving average of $178.59.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 35,129 shares of company stock valued at $6,730,436 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QUALCOMM

Several large investors have recently added to or reduced their stakes in QCOM. Pine Haven Investment Counsel Inc lifted its holdings in QUALCOMM by 2.5% in the second quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after purchasing an additional 50 shares during the period. Buffington Mohr McNeal lifted its holdings in QUALCOMM by 3.9% in the second quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after purchasing an additional 53 shares during the period. TRUE Private Wealth Advisors lifted its holdings in QUALCOMM by 2.2% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock valued at $525,000 after acquiring an additional 57 shares during the last quarter. Macroview Investment Management LLC lifted its holdings in QUALCOMM by 10.5% in the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock valued at $119,000 after acquiring an additional 57 shares during the last quarter. Finally, McClarren Financial Advisors Inc. lifted its holdings in QUALCOMM by 43.2% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company’s stock valued at $40,000 after acquiring an additional 60 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other 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.