Qualcomm Inc. (QCOM) Given Average Rating of “Buy” by Brokerages
Shares of Qualcomm Inc. (NASDAQ:QCOM) have received a consensus rating of “Buy” from the thirty-eight research firms that are currently covering the company. Seventeen equities research analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $66.34.
A number of equities research analysts have commented on QCOM shares. Canaccord Genuity restated a “buy” rating and issued a $70.00 price target on shares of Qualcomm in a report on Monday, August 15th. Vetr upgraded shares of Qualcomm from a “hold” rating to a “buy” rating and set a $66.21 price objective for the company in a report on Wednesday, August 31st. Standpoint Research raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Thursday, August 25th. Credit Suisse Group AG reissued a “buy” rating and set a $70.00 price target on shares of Qualcomm in a research report on Wednesday, August 3rd. Finally, Mizuho raised shares of Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, September 29th.
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In other news, EVP Michelle M. Sterling sold 9,810 shares of Qualcomm stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $66.53, for a total transaction of $652,659.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stiles Barbara Alexander sold 22,000 shares of Qualcomm stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $68.52, for a total transaction of $1,507,440.00. Following the sale, the director now owns 2,440 shares in the company, valued at approximately $167,188.80. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Several large investors have recently added to or reduced their stakes in QCOM. Pinkerton Retirement Specialists LLC boosted 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 last quarter. Krilogy Financial LLC boosted 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 last quarter. Orrstown Financial Services Inc. boosted 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 last quarter. Edmond DE Rothschild Monaco bought a new stake in Qualcomm during the third quarter valued at about $112,000. Finally, Kelman Lazarov Inc. boosted 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 last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.
Shares of Qualcomm (NASDAQ:QCOM) traded up 1.50% during midday trading on Wednesday, reaching $67.77. 6,470,104 shares of the company’s stock traded hands. Qualcomm has a 12 month low of $42.24 and a 12 month high of $71.62. The stock has a 50 day moving average of $67.23 and a 200-day moving average of $60.96. The stock has a market cap of $100.09 billion, a P/E ratio of 17.79 and a beta of 1.36.
Qualcomm (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The business earned $9.17 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the firm earned $0.91 earnings per share. Qualcomm’s quarterly revenue was up 68.2% on a year-over-year basis. On average, equities research analysts forecast that Qualcomm will post $4.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Monday, November 28th. Qualcomm’s payout ratio is 55.64%.
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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