Qualcomm Inc. (QCOM) Stock Rating Upgraded by Vetr Inc.
Qualcomm Inc. (NASDAQ:QCOM) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The firm presently has a $76.60 price target on the wireless technology company’s stock. Vetr‘s target price would suggest a potential upside of 14.72% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $70.00 price target (up previously from $63.00) on shares of Qualcomm in a report on Monday, October 3rd. Cowen and Company reiterated an “outperform” rating and issued a $74.00 price target on shares of Qualcomm in a report on Monday, November 7th. Mizuho upgraded Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, September 29th. Credit Suisse Group AG reiterated a “buy” rating and issued a $70.00 price target on shares of Qualcomm in a report on Wednesday, August 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Qualcomm in a report on Wednesday, August 17th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Qualcomm currently has an average rating of “Buy” and a consensus price target of $66.05.
Shares of Qualcomm (NASDAQ:QCOM) opened at 66.77 on Monday. Qualcomm has a 12-month low of $42.24 and a 12-month high of $71.62. The firm has a market cap of $98.61 billion, a P/E ratio of 17.52 and a beta of 1.36. The firm’s 50-day moving average price is $67.23 and its 200 day moving average price is $60.96.
Qualcomm (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Qualcomm had a return on equity of 19.31% and a net margin of 24.22%. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. On average, equities analysts expect that Qualcomm will post $4.76 earnings per share for the current fiscal 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 given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.12 annualized dividend and a dividend yield of 3.18%. Qualcomm’s payout ratio is 55.64%.
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In related news, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $60.94, for a total transaction of $609,400.00. Following the sale, the executive vice president now owns 59,497 shares in the company, valued at approximately $3,625,747.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $62.30, for a total value of $124,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Pinkerton Retirement Specialists LLC raised 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 valued at $111,000 after buying an additional 2,018 shares during the last quarter. Krilogy Financial LLC increased its position in Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares during the period. Orrstown Financial Services Inc. increased its position 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 worth $111,000 after buying an additional 565 shares during the period. Edmond DE Rothschild Monaco purchased a new position in Qualcomm during the third quarter worth $112,000. Finally, Kelman Lazarov Inc. increased its position in Qualcomm by 6.1% in the third quarter. Kelman Lazarov Inc. now owns 1,735 shares of the wireless technology company’s stock worth $116,000 after buying an additional 100 shares during the period. Institutional investors own 78.54% of the company’s stock.
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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