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

Cantor Fitzgerald reissued their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a report released on Thursday, Benzinga reports. The firm currently has a $215.00 price objective on the wireless technology company’s stock. Cantor Fitzgerald also issued estimates for QUALCOMM’s FY2024 earnings at $8.01 EPS.

Several other equities analysts also recently commented on the company. Canaccord Genuity Group upped their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Tigress Financial boosted their target price on shares of QUALCOMM from $238.00 to $270.00 and gave the company a buy rating in a report on Friday, June 21st. Bank of America boosted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a buy rating in a report on Friday, May 31st. Mizuho boosted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a buy rating in a report on Friday, May 31st. Finally, Piper Sandler reissued an overweight rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of Moderate Buy and a consensus price target of $210.63.

QUALCOMM Stock Performance

QUALCOMM stock traded down $0.30 during trading on Thursday, hitting $159.01. The stock had a trading volume of 4,554,809 shares, compared to its average volume of 9,392,492. QUALCOMM has a 1 year low of $104.33 and a 1 year 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 stock’s 50 day moving average is $200.91 and its two-hundred day moving average is $178.59. The stock has a market cap of $177.14 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.99 and a beta of 1.27.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.14%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the transaction, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The disclosure for this sale can be found here. Insiders sold 35,129 shares of company stock worth $6,730,436 over the last three months. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Institutional investors and hedge funds have recently made changes to their positions in the business. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the first quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $32,000. Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in shares of QUALCOMM by 43.2% during the second 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 in the last quarter. Finally, First Pacific Financial bought a new stake in shares of QUALCOMM during the second quarter valued at approximately $40,000. 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.