Mizuho reiterated their buy rating on shares of QUALCOMM Incorporated (NASDAQ:QCOM) in a research report sent to investors on Friday, October 27th.
Other analysts have also issued research reports about the company. ValuEngine lowered QUALCOMM from a buy rating to a hold rating in a report on Tuesday, July 25th. BMO Capital Markets reissued a market perform rating and issued a $55.00 target price on shares of QUALCOMM in a research report on Thursday, August 24th. Sanford C. Bernstein reaffirmed a hold rating on shares of QUALCOMM in a research report on Wednesday, July 19th. Royal Bank of Canada reaffirmed a sector perform rating and set a $55.00 price target on shares of QUALCOMM in a research report on Wednesday, July 5th. Finally, Wells Fargo & Company reaffirmed an outperform rating on shares of QUALCOMM in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $64.62.
Shares of QUALCOMM (QCOM) traded down $0.03 during midday trading on Friday, hitting $64.57. The company had a trading volume of 9,626,200 shares, compared to its average volume of 11,210,729. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $95,231.06, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same quarter in the prior year, the business earned $1.28 earnings per share. QUALCOMM’s revenue was down 3.5% on a year-over-year basis. equities research analysts anticipate that QUALCOMM will post 3.07 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.53%. QUALCOMM’s payout ratio is currently 138.18%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold 25,837 shares of company stock worth $1,512,049 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in QCOM. FMR LLC lifted its holdings in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Veritas Asset Management LLP purchased a new stake in shares of QUALCOMM in the second quarter valued at about $440,415,000. Capital International Investors lifted its holdings in shares of QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock valued at $835,633,000 after purchasing an additional 5,671,176 shares in the last quarter. Baupost Group LLC MA purchased a new stake in shares of QUALCOMM in the first quarter valued at about $299,085,000. Finally, Nordea Investment Management AB lifted its holdings in shares of QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after purchasing an additional 5,054,642 shares in the last quarter. 76.85% of the stock is currently owned by institutional investors.
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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