Mizuho reiterated their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report sent to investors on Wednesday, Marketbeat reports. They currently have a $75.00 target price on the wireless technology company’s stock, up from their previous target price of $65.00.

Several other research firms have also weighed in on QCOM. Vetr upgraded shares of QUALCOMM from a hold rating to a buy rating and set a $75.00 target price for the company in a research note on Monday, November 27th. Stifel Nicolaus lowered shares of QUALCOMM from a buy rating to a hold rating and boosted their target price for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. ValuEngine lowered shares of QUALCOMM from a buy rating to a hold rating in a research note on Tuesday. Sanford C. Bernstein reiterated a hold rating on shares of QUALCOMM in a research note on Monday, November 13th. Finally, Royal Bank of Canada upped their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an outperform rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $67.14.

QUALCOMM (NASDAQ:QCOM) traded up $0.03 during mid-day trading on Wednesday, reaching $68.05. 6,788,310 shares of the company’s stock traded hands, compared to its average volume of 8,060,000. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a market capitalization of $100,320.00, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 1.94 and a beta of 1.39.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. equities research analysts predict that QUALCOMM will post 3.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, February 27th. QUALCOMM’s payout ratio is currently 138.18%.

In related news, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 43,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders sold 72,989 shares of company stock valued at $4,678,794 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Ronald Blue & Co. LLC lifted its holdings in QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after acquiring an additional 18 shares during the last quarter. Hollencrest Securities LLC lifted its holdings in QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after acquiring an additional 40 shares during the last quarter. FCA Corp TX lifted its holdings in QUALCOMM by 1.0% in the 2nd quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock valued at $269,000 after acquiring an additional 49 shares during the last quarter. Meridian Investment Counsel Inc. lifted its holdings in QUALCOMM by 0.3% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock valued at $1,010,000 after acquiring an additional 50 shares during the last quarter. Finally, Valueworks LLC lifted its holdings in QUALCOMM by 0.3% in the 2nd quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock valued at $827,000 after acquiring an additional 50 shares during the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.

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About QUALCOMM

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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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