QUALCOMM (NASDAQ:QCOM) Price Target Lowered to $210.00 at JPMorgan Chase & Co.

QUALCOMM (NASDAQ:QCOM - Free Report) had its target price lowered by JPMorgan Chase & Co. from $230.00 to $210.00 in a research note published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the wireless technology company's stock.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird increased their price target on QUALCOMM from $200.00 to $250.00 and gave the stock an outperform rating in a research report on Tuesday, July 23rd. DZ Bank upgraded QUALCOMM from a hold rating to a buy rating and set a $210.00 price target for the company in a research report on Friday, August 2nd. Rosenblatt Securities boosted their price target on QUALCOMM from $240.00 to $250.00 and gave the company a buy rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an overweight rating and set a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a hold rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $211.67.

QUALCOMM Stock Performance

QUALCOMM stock traded up $2.09 during mid-day trading on Tuesday, reaching $168.70. 5,824,698 shares of the company traded hands, compared to its average volume of 9,174,219. The firm's fifty day moving average is $175.29 and its two-hundred day moving average is $182.11. The company has a market capitalization of $188.27 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. QUALCOMM has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. 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 (NASDAQ:QCOM - Get Free Report) last issued its 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. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts expect that QUALCOMM will post 8 earnings per share 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 given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM's payout ratio is 45.70%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the business'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 sale, the chief technology officer now owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, 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 a total of 19,000 shares of company stock valued at $3,496,590 over the last 90 days. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Heritage Wealth Management Inc. purchased a new position in QUALCOMM in the second quarter valued at $1,539,000. Sanctuary Advisors LLC acquired a new position in shares of QUALCOMM during the second quarter worth about $33,168,000. Creekside Partners purchased a new stake in shares of QUALCOMM during the second quarter worth approximately $320,000. NCP Inc. raised its holdings in QUALCOMM by 50.5% in the second quarter. NCP Inc. now owns 301 shares of the wireless technology company's stock valued at $60,000 after acquiring an additional 101 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in QUALCOMM in the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 74.35% of the company's stock.

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.