Qualcomm Inc. (QCOM) Given “Sector Perform” Rating at RBC Capital Markets
RBC Capital Markets reiterated their sector perform rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a research note published on Monday morning. RBC Capital Markets currently has a $70.00 target price on the wireless technology company’s stock, up from their previous target price of $59.00.
Other equities analysts have also issued reports about the company. KeyCorp restated a buy rating and set a $59.00 target price on shares of Qualcomm in a research report on Wednesday, July 6th. Morgan Stanley restated a buy rating on shares of Qualcomm in a research report on Wednesday, June 15th. Vetr upgraded Qualcomm from a hold rating to a buy rating and set a $58.08 target price for the company in a research report on Monday, June 13th. Zacks Investment Research upgraded Qualcomm from a hold rating to a buy rating and set a $61.00 target price for the company in a research report on Monday, July 11th. Finally, Bank of America Corp. restated a buy rating on shares of Qualcomm in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Qualcomm currently has an average rating of Buy and an average target price of $63.98.
Qualcomm (NASDAQ:QCOM) opened at 67.30 on Monday. The company has a market cap of $99.18 billion, a price-to-earnings ratio of 19.71 and a beta of 1.25. The company’s 50-day moving average is $63.13 and its 200 day moving average is $56.47. Qualcomm has a 12 month low of $42.24 and a 12 month high of $70.40.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 EPS. Equities analysts forecast that Qualcomm will post $4.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a yield of 3.16%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
In other Qualcomm news, Director Raymond V. Dittamore sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $68.39, for a total value of $1,231,020.00. Following the completion of the sale, the director now owns 5,813 shares of the company’s stock, valued at $397,551.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in QCOM. Pinkerton Retirement Specialists LLC boosted its stake in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock worth $111,000 after buying an additional 2,018 shares during the period. Krilogy Financial LLC boosted its position in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 791 shares during the last quarter. CapWealth Advisors LLC boosted its position in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new position in shares of Qualcomm during the second quarter valued at about $121,000. 78.05% of the stock is owned by hedge funds and other institutional investors.
Qualcomm Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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