Brokerages Set QUALCOMM Incorporated (QCOM) Target Price at $63.26
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have earned an average recommendation of “Hold” from the thirty-five ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $63.04.
Several equities analysts have recently issued reports on the company. Vetr cut QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 target price on the stock. in a research note on Monday, May 22nd. Stifel Nicolaus boosted their target price on QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 26th. J P Morgan Chase & Co raised QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $50.00 to $68.00 in a research note on Monday, May 22nd. BMO Capital Markets reissued a “market perform” rating on shares of QUALCOMM in a research note on Sunday, May 21st. Finally, Zacks Investment Research cut QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now owns 5,855 shares of the company’s stock, valued at approximately $324,249.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,995 shares of company stock valued at $1,587,390. Company insiders own 0.17% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of QUALCOMM by 1.5% during the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after purchasing an additional 1,537,645 shares in the last quarter. FMR LLC grew its position in shares of QUALCOMM by 16.5% during the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Northern Trust Corp grew its position in shares of QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after purchasing an additional 499,531 shares in the last quarter. Capital International Investors grew its position in shares of QUALCOMM by 59.9% during the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after purchasing an additional 5,671,176 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of QUALCOMM by 3.6% during the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock worth $575,769,000 after purchasing an additional 352,962 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.
Shares of QUALCOMM (NASDAQ QCOM) traded down 1.79% during mid-day trading on Tuesday, hitting $49.48. 10,508,153 shares of the stock traded hands. The firm’s 50-day moving average is $52.51 and its 200-day moving average is $55.32. The stock has a market cap of $73.04 billion, a price-to-earnings ratio of 18.95 and a beta of 1.29. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The business’s revenue was down 11.1% compared to the same quarter last year. On average, analysts forecast that QUALCOMM will post $4.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Monday, August 28th. QUALCOMM’s payout ratio is 87.36%.
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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