QUALCOMM (NASDAQ:QCOM) Research Coverage Started at Evercore ISI

Evercore ISI began coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report released on Tuesday morning, Marketbeat reports. The firm issued an in-line rating and a $177.00 target price on the wireless technology company’s stock.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald raised their target price on QUALCOMM from $150.00 to $190.00 and gave the company a neutral rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $173.00 to $170.00 and set an overweight rating for the company in a research note on Thursday, February 1st. Mizuho raised their target price on QUALCOMM from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, February 1st. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the company an overweight rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $156.90.

QUALCOMM Price Performance

Shares of QCOM stock opened at $161.44 on Tuesday. The firm has a market cap of $180.17 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.30 and a beta of 1.41. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The business’s 50 day moving average price is $164.74 and its 200-day moving average price is $142.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities research analysts anticipate that QUALCOMM will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last quarter. 0.08% of the stock is currently owned by insiders.

Institutional Trading of QUALCOMM

Several hedge funds have recently bought and sold shares of the stock. Grandview Asset Management LLC grew its holdings in QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. grew its holdings in QUALCOMM by 0.6% during the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the period. VERITY Wealth Advisors grew its holdings in QUALCOMM by 0.8% during the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the period. Cassaday & Co Wealth Management LLC lifted its position in shares of QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after acquiring an additional 66 shares in the last quarter. Finally, Transform Wealth LLC lifted its position in shares of QUALCOMM by 2.3% in the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

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.