QUALCOMM (NASDAQ:QCOM) Upgraded to “Strong-Buy” by TD Cowen

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

Several other equities analysts have also commented on the stock. Hsbc Global Res lowered shares of QUALCOMM from a strong-buy rating to a hold rating in a research note on Wednesday, July 17th. Westpark Capital reaffirmed a hold rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Piper Sandler reissued an overweight rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Citigroup upped their price objective on shares of QUALCOMM from $170.00 to $200.00 and gave the company a neutral rating in a research note on Monday, July 15th. Finally, Robert W. Baird lifted their target price on QUALCOMM from $200.00 to $250.00 and gave the stock an outperform rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of Moderate Buy and a consensus target price of $211.67.

QUALCOMM Price Performance

QUALCOMM stock opened at $173.92 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a fifty day simple moving average of $173.19 and a 200-day simple moving average of $182.00. The stock has a market cap 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. 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, topping 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. Equities analysts expect that QUALCOMM will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 yield of 1.95%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Activity

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gilbert & Cook Inc. lifted its stake in shares of QUALCOMM by 7.3% during the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 356 shares during the period. Gryphon Financial Partners LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $334,000. Hillsdale Investment Management Inc. grew its position in shares of QUALCOMM by 27.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock valued at $190,000 after purchasing an additional 280 shares during the period. Gladstone Institutional Advisory LLC grew its position in shares of QUALCOMM by 3.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 14,631 shares of the wireless technology company’s stock valued at $2,116,000 after purchasing an additional 516 shares during the period. Finally, Associated Banc Corp acquired a new position in QUALCOMM in the fourth quarter valued at $248,000. 74.35% of the stock is currently owned by hedge funds and other 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.