QUALCOMM (NASDAQ:QCOM) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $160.00 price objective on the wireless technology company’s stock.

QCOM has been the topic of a number of other research reports. Barclays increased their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. Wells Fargo & Company upped their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a report on Tuesday, July 30th. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $212.16.

QUALCOMM Stock Down 1.1 %

Shares of QCOM traded down $1.92 during mid-day trading on Thursday, reaching $170.99. The company had a trading volume of 10,615,435 shares, compared to its average volume of 9,039,595. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The company has a market capitalization of $190.48 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. The firm has a 50-day moving average price of $168.55 and a 200 day moving average price of $182.14. QUALCOMM has a 52 week low of $119.85 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 39.70% and a net margin of 26.03%. On average, sell-side analysts forecast that QUALCOMM will post 8.62 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now directly owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total transaction of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,146 shares of company stock valued at $2,709,186 over the last ninety days. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategy Asset Managers LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $530,000. Sachetta LLC increased its stake in QUALCOMM by 6.8% in the 3rd quarter. Sachetta LLC now owns 6,072 shares of the wireless technology company’s stock valued at $1,033,000 after purchasing an additional 389 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in QUALCOMM during the third quarter worth $2,241,000. West Family Investments Inc. boosted its position in QUALCOMM by 55.2% during the third quarter. West Family Investments Inc. now owns 3,632 shares of the wireless technology company’s stock worth $618,000 after purchasing an additional 1,292 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in QUALCOMM in the third quarter valued at $16,549,000. 74.35% of the stock is currently 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.