QCOM has been the subject of a number of other research reports. Barclays raised their price objective on shares of QUALCOMM from $70.00 to $100.00 and gave the stock an overweight rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. assumed coverage on shares of QUALCOMM in a research note on Wednesday, March 27th. They issued a neutral rating and a $54.00 price objective for the company. Raymond James raised their price objective on shares of QUALCOMM from $65.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday, April 17th. Canaccord Genuity reaffirmed a buy rating and issued a $89.00 price objective (up previously from $75.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. Finally, Mizuho reaffirmed a buy rating and issued a $90.00 price objective (up previously from $82.00) on shares of QUALCOMM in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of Buy and an average target price of $79.68.
QUALCOMM stock opened at $74.95 on Monday. The business has a 50 day moving average price of $73.08. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $90.34. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.59.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue was down 5.9% on a year-over-year basis. Equities analysts expect that QUALCOMM will post 3.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be given a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a yield of 3.31%. QUALCOMM’s payout ratio is 77.74%.
In other news, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Donald J. Rosenberg sold 7,141 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $84.56, for a total transaction of $603,842.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,832 shares of company stock valued at $37,443,538. Insiders own 0.11% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Weaver Consulting Group bought a new position in shares of QUALCOMM during the 1st quarter valued at $25,000. Horizon Investments LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at $2,410,000. Redwood Investment Management LLC bought a new position in shares of QUALCOMM during the 1st quarter valued at $3,023,000. B. Riley Wealth Management Inc. raised its holdings in shares of QUALCOMM by 15.1% during the 1st quarter. B. Riley Wealth Management Inc. now owns 5,359 shares of the wireless technology company’s stock valued at $306,000 after purchasing an additional 704 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of QUALCOMM by 65.1% during the 1st quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock valued at $24,915,000 after purchasing an additional 172,283 shares in the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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