Rosenblatt Securities reissued their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a report issued on Thursday, AnalystRatings.com reports. They currently have a $95.00 price objective on the wireless technology company’s stock.
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A number of other equities analysts have also weighed in on the company. Barclays lowered QUALCOMM from an overweight rating to an equal weight rating and decreased their target price for the stock from $90.00 to $75.00 in a research report on Thursday, July 18th. Morgan Stanley set a $89.00 price target on shares of QUALCOMM and gave the company a buy rating in a research report on Wednesday, August 21st. Royal Bank of Canada reaffirmed a sector perform rating and set a $79.00 price target on shares of QUALCOMM in a research report on Monday, July 22nd. TheStreet raised shares of QUALCOMM from a c+ rating to a b- rating in a research report on Thursday, August 1st. Finally, Daiwa Capital Markets began coverage on shares of QUALCOMM in a research report on Thursday, July 18th. They set a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $85.18.
NASDAQ:QCOM traded up $4.05 during trading hours on Thursday, hitting $94.03. The company had a trading volume of 16,371,200 shares, compared to its average volume of 14,163,117. The company has a market capitalization of $103.89 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The stock has a 50-day moving average price of $78.92 and a 200 day moving average price of $76.48. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $94.11. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.77 and a quick ratio of 1.61.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. QUALCOMM’s revenue was down 17.2% on a year-over-year basis. Analysts anticipate that QUALCOMM will post 3.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. QUALCOMM’s dividend payout ratio is 87.32%.
In other QUALCOMM news, Director Mark D. Mclaughlin purchased 2,705 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was acquired at an average cost of $73.84 per share, for a total transaction of $199,737.20. Following the purchase, the director now directly owns 5,220 shares of the company’s stock, valued at approximately $385,444.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Cristiano R. Amon sold 8,611 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.03, for a total value of $689,138.33. Following the completion of the transaction, the president now owns 50,434 shares of the company’s stock, valued at $4,036,233.02. The disclosure for this sale can be found here. Insiders sold a total of 19,118 shares of company stock valued at $1,477,392 over the last three months. 0.11% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Ibex Wealth Advisors bought a new position in QUALCOMM in the 2nd quarter worth approximately $28,000. Krane Funds Advisors LLC bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $28,000. Hexavest Inc. bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $33,000. Lenox Wealth Advisors LLC bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $34,000. Finally, Mechanics Bank Trust Department bought a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.30% of the company’s stock.
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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