Nomura upgraded shares of QUALCOMM (NASDAQ:QCOM) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $75.00 price objective on the wireless technology company’s stock, up from their prior price objective of $58.00.
Other analysts have also recently issued reports about the company. Sanford C. Bernstein restated a hold rating on shares of QUALCOMM in a research report on Monday, November 13th. Vetr upgraded QUALCOMM from a hold rating to a buy rating and set a $69.52 price objective for the company in a research report on Monday, November 13th. Stifel Nicolaus cut QUALCOMM from a buy rating to a hold rating and boosted their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. ValuEngine upgraded QUALCOMM from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, BidaskClub cut QUALCOMM from a buy rating to a hold rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $67.14.
Shares of QUALCOMM (QCOM) opened at $68.04 on Tuesday. The company has a market capitalization of $100,290.00, a P/E ratio of 41.24, a PEG ratio of 1.93 and a beta of 1.39. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.00 and a quick ratio of 3.81.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 earnings per share. sell-side analysts anticipate that QUALCOMM will post 3.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.35%. QUALCOMM’s dividend payout ratio (DPR) is 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,989 shares of company stock worth $4,678,794. 0.17% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of QCOM. FMR LLC increased its holdings in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares during the last quarter. Veritas Asset Management LLP purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $440,415,000. Capital International Investors increased its holdings in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after acquiring an additional 6,322,645 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of QUALCOMM in the 2nd quarter valued at about $210,548,000. Finally, Parnassus Investments CA increased its holdings in shares of QUALCOMM by 62.4% in the 3rd quarter. Parnassus Investments CA now owns 7,809,000 shares of the wireless technology company’s stock valued at $404,819,000 after acquiring an additional 3,000,000 shares during the last quarter. Institutional investors own 76.23% of the company’s stock.
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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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