Robert W. Baird Increases QUALCOMM (NASDAQ:QCOM) Price Target to $250.00

QUALCOMM (NASDAQ:QCOM) had its price objective boosted by Robert W. Baird from $200.00 to $250.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the wireless technology company’s stock.

QCOM has been the topic of a number of other research reports. KeyCorp lifted their price objective on QUALCOMM from $205.00 to $225.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Piper Sandler lifted their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Susquehanna lifted their target price on QUALCOMM from $205.00 to $250.00 and gave the company a positive rating in a research report on Wednesday, July 17th. Benchmark restated a buy rating and issued a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, Tigress Financial lifted their target price on QUALCOMM from $238.00 to $270.00 and gave the company a buy rating in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $199.63.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $175.39 on Tuesday. QUALCOMM has a one year low of $104.33 and a one year high of $230.63. The stock has a market cap of $195.74 billion, a PE ratio of 23.57, a P/E/G ratio of 2.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a 50 day moving average price of $204.47 and a 200 day moving average price of $176.72.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. Equities research analysts expect that QUALCOMM will post 7.84 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 1.94%. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,552,835 in the last three months. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pine Haven Investment Counsel Inc boosted its position in shares of QUALCOMM by 2.5% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,059 shares of the wireless technology company’s stock worth $410,000 after acquiring an additional 50 shares in the last quarter. Buffington Mohr McNeal boosted its position in shares of QUALCOMM by 3.9% during the 2nd quarter. Buffington Mohr McNeal now owns 1,401 shares of the wireless technology company’s stock worth $279,000 after acquiring an additional 53 shares in the last quarter. TRUE Private Wealth Advisors boosted its position in shares of QUALCOMM by 2.2% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,638 shares of the wireless technology company’s stock worth $525,000 after acquiring an additional 57 shares in the last quarter. Macroview Investment Management LLC boosted its position in shares of QUALCOMM by 10.5% during the 2nd quarter. Macroview Investment Management LLC now owns 600 shares of the wireless technology company’s stock worth $119,000 after acquiring an additional 57 shares in the last quarter. Finally, Grandview Asset Management LLC boosted its position in shares of QUALCOMM by 2.3% in the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Company Profile

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.