QUALCOMM (NASDAQ:QCOM) Stock Rating Upgraded by TD Cowen

TD Cowen upgraded shares of QUALCOMM (NASDAQ:QCOM) to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports.

Several other brokerages also recently weighed in on QCOM. Piper Sandler reaffirmed an overweight rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Barclays increased their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an overweight rating in a report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. KeyCorp raised their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. Finally, Westpark Capital reiterated a hold rating on shares of QUALCOMM in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of Moderate Buy and an average target price of $211.67.

QUALCOMM Stock Up 3.3 %

QCOM stock opened at $173.92 on Monday. The firm’s fifty day simple moving average is $173.19 and its 200-day simple moving average is $182.00. The company has a market capitalization of $194.09 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities research analysts forecast that QUALCOMM will post 8 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is currently owned by insiders.

Institutional Trading of QUALCOMM

A number of institutional investors and hedge funds have recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter worth approximately $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the second quarter valued at $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC boosted its holdings in QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new position in QUALCOMM during the 1st quarter worth $37,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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.