QUALCOMM (NASDAQ:QCOM) had its target price hoisted by Bank of America from $145.00 to $165.00 in a report issued on Wednesday, Anlyst Ratings reports. Bank of America currently has a buy rating on the wireless technology company’s stock.

A number of other analysts have also issued reports on the stock. Canaccord Genuity lifted their price objective on shares of QUALCOMM from $137.00 to $150.00 and gave the company a buy rating in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of QUALCOMM from $115.00 to $127.00 and gave the company a buy rating in a research note on Wednesday, August 12th. Wells Fargo & Company upgraded shares of QUALCOMM from an underweight rating to an equal weight rating and lifted their price objective for the company from $90.00 to $120.00 in a research note on Tuesday, September 1st. Sanford C. Bernstein set a $135.00 price objective on shares of QUALCOMM and gave the company a buy rating in a research note on Tuesday, August 11th. Finally, Piper Sandler lifted their price objective on shares of QUALCOMM from $80.00 to $110.00 and gave the company a neutral rating in a research note on Thursday, July 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $121.58.

NASDAQ QCOM opened at $129.03 on Wednesday. QUALCOMM has a one year low of $58.00 and a one year high of $132.42. The company’s 50 day moving average price is $117.35 and its 200 day moving average price is $95.14. The company has a debt-to-equity ratio of 4.67, a quick ratio of 1.67 and a current ratio of 1.97. The firm has a market capitalization of $145.58 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 1.79 and a beta of 1.36.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the firm posted $0.80 earnings per share. QUALCOMM’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts forecast that QUALCOMM will post 3.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, December 2nd. QUALCOMM’s dividend payout ratio is presently 91.55%.

In other news, EVP Donald J. Rosenberg sold 10,720 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $118.27, for a total transaction of $1,267,854.40. Following the completion of the transaction, the executive vice president now owns 9,292 shares of the company’s stock, valued at $1,098,964.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Cristiano R. Amon sold 20,530 shares of the business’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $130.60, for a total transaction of $2,681,218.00. Following the transaction, the president now directly owns 50,753 shares of the company’s stock, valued at approximately $6,628,341.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,720 shares of company stock valued at $5,348,451. 0.12% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meridian Investment Counsel Inc. boosted its holdings in shares of QUALCOMM by 0.4% during the second quarter. Meridian Investment Counsel Inc. now owns 25,101 shares of the wireless technology company’s stock valued at $2,289,000 after acquiring an additional 100 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in shares of QUALCOMM by 0.9% during the second quarter. Sound View Wealth Advisors Group LLC now owns 11,264 shares of the wireless technology company’s stock valued at $1,027,000 after acquiring an additional 100 shares during the period. Almanack Investment Partners LLC. boosted its holdings in shares of QUALCOMM by 2.7% during the second quarter. Almanack Investment Partners LLC. now owns 3,892 shares of the wireless technology company’s stock valued at $355,000 after acquiring an additional 103 shares during the period. Rosenberg Matthew Hamilton boosted its holdings in shares of QUALCOMM by 9.5% during the third quarter. Rosenberg Matthew Hamilton now owns 1,257 shares of the wireless technology company’s stock valued at $148,000 after acquiring an additional 109 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of QUALCOMM by 3.4% during the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock valued at $308,000 after acquiring an additional 110 shares during the period. 74.79% of the stock is owned by institutional investors.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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