Qualcomm Inc. (NASDAQ:QCOM) had its target price lifted by Canaccord Genuity from $70.00 to $75.00 in a research note released on Wednesday. They currently have a buy rating on the wireless technology company’s stock.

Several other analysts also recently issued reports on QCOM. Royal Bank Of Canada increased their price target on Qualcomm from $55.00 to $59.00 and gave the company an outperform rating in a report on Thursday, July 21st. Nomura reissued a neutral rating and issued a $55.00 price objective on shares of Qualcomm in a research report on Thursday, July 21st. Stifel Nicolaus upped their price objective on shares of Qualcomm from $59.00 to $67.00 and gave the company a buy rating in a research report on Thursday, July 21st. Mizuho upped their price objective on shares of Qualcomm from $50.00 to $56.00 and gave the company a neutral rating in a research report on Thursday, July 21st. Finally, Sanford C. Bernstein reissued a hold rating on shares of Qualcomm in a research report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Qualcomm has an average rating of Buy and a consensus price target of $64.20.

Analyst Recommendations for Qualcomm (NASDAQ:QCOM)

Shares of Qualcomm (NASDAQ:QCOM) traded down 1.315% during trading on Wednesday, reaching $65.191. The company had a trading volume of 3,144,941 shares. Qualcomm has a 52-week low of $42.24 and a 52-week high of $70.40. The stock has a market capitalization of $96.07 billion, a price-to-earnings ratio of 19.090 and a beta of 1.25. The stock has a 50 day moving average of $63.99 and a 200 day moving average of $57.17.

Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm earned $0.99 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Qualcomm will post $4.30 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s payout ratio is 62.17%.

In other Qualcomm news, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $60.94, for a total transaction of $609,400.00. Following the sale, the executive vice president now directly owns 59,497 shares of the company’s stock, valued at $3,625,747.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 33,000 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $59.85, for a total transaction of $1,975,050.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

A number of hedge funds have recently bought and sold shares of QCOM. Orrstown Financial Services Inc. raised its stake in Qualcomm by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 565 shares during the period. Kelman Lazarov Inc. raised its stake in Qualcomm by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock valued at $116,000 after buying an additional 100 shares during the period. Krilogy Financial LLC raised its stake in 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 period. Pinkerton Retirement Specialists LLC raised its stake in 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 valued at $111,000 after buying an additional 2,018 shares during the period. Finally, CapWealth Advisors LLC raised its stake in 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 period. 78.05% of the stock is currently 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.

5 Day Chart for NASDAQ:QCOM

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