QUALCOMM (NASDAQ:QCOM) Price Target Cut to $210.00 by Analysts at Susquehanna

QUALCOMM (NASDAQ:QCOM) had its price target reduced by Susquehanna from $230.00 to $210.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a positive rating on the wireless technology company’s stock.

Several other equities research analysts have also recently commented on QCOM. TD Cowen raised QUALCOMM to a “strong-buy” rating in a report on Monday, September 16th. Robert W. Baird boosted their price objective on QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $210.15.

QUALCOMM Trading Up 0.9 %

Shares of QCOM stock opened at $156.79 on Wednesday. QUALCOMM has a 1 year low of $125.67 and a 1 year high of $230.63. The firm has a market capitalization of $174.19 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.28. The stock has a fifty day moving average of $167.82 and a two-hundred day moving average of $181.58. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,450 shares of company stock valued at $2,911,306. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On QUALCOMM

A number of institutional investors and hedge funds have recently modified their holdings of QCOM. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM in the 1st quarter valued at about $1,171,516,000. Massachusetts Financial Services Co. MA grew its stake in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares during the last quarter. Pacer Advisors Inc. grew its stake in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC grew its stake in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after buying an additional 2,919,490 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. 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.