Research Analysts’ Weekly Ratings Changes for QUALCOMM (QCOM)

Several brokerages have updated their recommendations and price targets on shares of QUALCOMM (NASDAQ: QCOM) in the last few weeks:

• 4/16/2024 – QUALCOMM is now covered by analysts at Evercore ISI. They set an “in-line” rating and a $177.00 price target on the stock.
• 4/10/2024 – QUALCOMM had its price target raised by analysts at Susquehanna from $175.00 to $205.00. They now have a “positive” rating on the stock.
• 4/8/2024 – QUALCOMM had its price target raised by analysts at KeyCorp from $180.00 to $205.00. They now have an “overweight” rating on the stock.
• 4/8/2024 – QUALCOMM had its price target raised by analysts at Cantor Fitzgerald from $150.00 to $190.00. They now have a “neutral” rating on the stock.
• 3/7/2024 – QUALCOMM was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 3/4/2024 – QUALCOMM had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $150.00 price target on the stock.
• 2/27/2024 – QUALCOMM was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.

QUALCOMM Price Performance

NASDAQ QCOM opened at $161.44 on Friday. The company has a market capitalization of $180.17 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.30 and a beta of 1.41. The stock has a 50-day moving average of $164.74 and a 200 day moving average of $142.33. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. 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 posted its quarterly earnings data 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 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 in the last three months. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. State Street Corp boosted its position in QUALCOMM by 2.5% in the 1st quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after buying an additional 1,183,406 shares during the period. Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after acquiring an additional 24,566,978 shares during the period. Finally, Morgan Stanley raised its stake in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after acquiring an additional 3,929,586 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

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.