QUALCOMM’s (QCOM) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Thursday,Benzinga reports. The firm currently has a $240.00 price objective on the wireless technology company’s stock.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays boosted their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their target price on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. TD Cowen upgraded QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird raised their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.16.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $170.91 on Thursday. QUALCOMM has a fifty-two week low of $119.85 and a fifty-two week high of $230.63. The stock has a market cap of $190.39 billion, a PE ratio of 19.01, a PEG ratio of 1.76 and a beta of 1.28. 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’s fifty day moving average price is $168.53 and its two-hundred day moving average price is $182.15.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. On average, equities analysts expect that QUALCOMM will post 8.62 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued 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 dividend yield of 1.99%. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock worth $2,709,186 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC grew its position in QUALCOMM by 10.6% in the 3rd quarter. LPL Financial LLC now owns 1,286,536 shares of the wireless technology company’s stock worth $218,775,000 after purchasing an additional 123,215 shares in the last quarter. Cypress Capital Group increased its position in shares of QUALCOMM by 1.4% during the third quarter. Cypress Capital Group now owns 22,312 shares of the wireless technology company’s stock valued at $3,794,000 after acquiring an additional 313 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in QUALCOMM by 54.3% during the third quarter. Landscape Capital Management L.L.C. now owns 20,273 shares of the wireless technology company’s stock worth $3,447,000 after acquiring an additional 7,133 shares during the period. Intech Investment Management LLC grew its stake in QUALCOMM by 180.8% in the 3rd quarter. Intech Investment Management LLC now owns 118,491 shares of the wireless technology company’s stock valued at $20,149,000 after purchasing an additional 76,296 shares during the period. Finally, Aurora Investment Counsel increased its position in shares of QUALCOMM by 9.3% during the 3rd quarter. Aurora Investment Counsel now owns 13,975 shares of the wireless technology company’s stock valued at $2,376,000 after purchasing an additional 1,194 shares during the last quarter. Hedge funds and other institutional investors 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.