QUALCOMM (NASDAQ:QCOM) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $190.00 price objective on the wireless technology company’s stock.

A number of other brokerages also recently commented on QCOM. Wolfe Research boosted their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday. Bank of America increased their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a buy rating in a report on Thursday. Piper Sandler boosted their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Benchmark began coverage on shares of QUALCOMM in a research note on Tuesday, April 23rd. They issued a buy rating and a $200.00 price target on the stock. Finally, StockNews.com upgraded shares of QUALCOMM from a buy rating to a strong-buy rating in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $179.36.

QUALCOMM Stock Down 0.3 %

QCOM stock traded down $0.46 during mid-day trading on Thursday, reaching $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM has a fifty-two week low of $101.47 and a fifty-two week high of $183.19. The company has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The firm has a fifty day simple moving average of $167.69 and a 200 day simple moving average of $146.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Analysts forecast that QUALCOMM will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced 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. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock worth $7,429,728 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of QUALCOMM

Institutional investors have recently bought and sold shares of the company. 9258 Wealth Management LLC lifted its holdings in shares of QUALCOMM by 0.9% in the first quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after purchasing an additional 91 shares in the last quarter. Gould Asset Management LLC CA purchased a new stake in QUALCOMM in the 1st quarter valued at approximately $226,000. WBI Investments LLC grew its holdings in QUALCOMM by 50.3% during the 1st quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after buying an additional 4,387 shares during the last quarter. Team Hewins LLC increased its position in QUALCOMM by 2.2% during the first quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock worth $1,314,000 after buying an additional 167 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its position in QUALCOMM by 4.2% during the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock worth $1,692,000 after buying an additional 400 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.