QUALCOMM (NASDAQ:QCOM) Given New $270.00 Price Target at Tigress Financial

QUALCOMM (NASDAQ:QCOM) had its price target hoisted by Tigress Financial from $238.00 to $270.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the wireless technology company’s stock.

Several other equities analysts have also commented on QCOM. Cantor Fitzgerald reiterated a neutral rating and issued a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. TD Cowen boosted their price target on QUALCOMM from $200.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price target on QUALCOMM from $170.00 to $185.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. HSBC upped their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Finally, Mizuho upped their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a buy rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $192.13.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $212.53 on Friday. The stock has a market cap of $237.18 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.77 and a beta of 1.30. The business has a fifty day moving average of $192.36 and a 200-day moving average of $166.92. QUALCOMM has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, analysts predict that QUALCOMM will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.60%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cape Investment Advisory Inc. grew its holdings in QUALCOMM by 1.0% in the 1st quarter. Cape Investment Advisory Inc. now owns 6,537 shares of the wireless technology company’s stock worth $1,107,000 after buying an additional 62 shares in the last quarter. Keynote Financial Services LLC bought a new position in QUALCOMM in the 1st quarter worth approximately $1,636,000. American Trust grew its holdings in QUALCOMM by 3.4% in the 1st quarter. American Trust now owns 3,330 shares of the wireless technology company’s stock worth $564,000 after buying an additional 110 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in QUALCOMM by 1.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 618,415 shares of the wireless technology company’s stock valued at $104,036,000 after purchasing an additional 11,411 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in QUALCOMM during the 1st quarter valued at $698,000. 74.35% of the stock is owned by 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.