QUALCOMM (NASDAQ:QCOM) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of QUALCOMM (NASDAQ:QCOMFree Report) in a research note published on Wednesday,Benzinga reports. The firm currently has a $160.00 target price on the wireless technology company’s stock.

QCOM has been the subject of several other reports. Susquehanna lowered their target price on QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Wolfe Research lowered QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.15.

Read Our Latest Stock Analysis on QCOM

QUALCOMM Trading Down 6.3 %

Shares of NASDAQ QCOM opened at $154.27 on Wednesday. The stock has a market capitalization of $171.39 billion, a P/E ratio of 17.16, a PEG ratio of 2.77 and a beta of 1.28. The stock’s 50 day moving average price is $168.23 and its two-hundred day moving average price is $181.93. QUALCOMM has a 52-week low of $125.67 and a 52-week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the 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 sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock worth $2,709,186 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Hedge funds have recently modified their holdings of the stock. HWG Holdings LP acquired a new position in shares of QUALCOMM in the second quarter worth $30,000. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the third quarter worth $26,000. Financial Connections Group Inc. acquired a new stake in QUALCOMM during the second quarter worth about $32,000. Aspect Partners LLC grew its position in QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Finally, Planning Capital Management Corp grew its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Company Profile

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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.

Further Reading

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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