Zacks Investment Research lowered shares of QUALCOMM (NASDAQ:QCOM) from a hold rating to a sell rating in a research note issued to investors on Tuesday, February 6th.
According to Zacks, “Regulatory disputes and aggressive competition in the mobile phone chipset market continues to hurt Qualcomm. Amidst such headwinds, Qualcomm posted strong first-quarter fiscal 2018 financial results. During the quarter, Qualcomm shipped 237 million CDMA-based MSM (Mobile Station Modem) chipsets, up 9% year over year. The performance was backed by Qualcomm’s continued product leadership and profitability improvement in its semiconductor business and mobile connectivity with multiple technological achievements and launches. Qualcomm received regulatory nod from the South Korea’s FairTrade Commission and European Commission for its pending NXP Semiconductor deal. The stock price 17.1% in the past six months, outperforming its industry’s 5.8% gain.”
A number of other research firms also recently weighed in on QCOM. Canaccord Genuity raised their target price on shares of QUALCOMM from $76.00 to $83.00 and gave the company a buy rating in a research report on Monday, November 13th. Royal Bank of Canada lifted their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an outperform rating in a research report on Tuesday, November 14th. Vetr downgraded shares of QUALCOMM from a strong-buy rating to a hold rating and set a $62.71 price objective for the company. in a research report on Monday, November 6th. ValuEngine downgraded shares of QUALCOMM from a buy rating to a hold rating in a research report on Tuesday, January 16th. Finally, Nomura raised shares of QUALCOMM from a neutral rating to a buy rating and lifted their price objective for the company from $58.00 to $75.00 in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $68.25.
QUALCOMM (QCOM) opened at $65.70 on Tuesday. The firm has a market cap of $97,260.00, a price-to-earnings ratio of -23.22, a P/E/G ratio of 2.04 and a beta of 1.38. 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 0.81, a current ratio of 3.41 and a quick ratio of 3.25.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. The business had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. equities analysts forecast that QUALCOMM will post 2.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Tuesday, February 27th. QUALCOMM’s payout ratio is -80.57%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM 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 completion of the sale, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 53,346 shares of company stock valued at $3,499,504 in the last ninety days. 0.24% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. FMR LLC raised its position 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 buying an additional 11,387,347 shares in the last quarter. Veritas Asset Management LLP acquired a new position in shares of QUALCOMM in the 2nd quarter valued at approximately $440,415,000. Capital International Investors raised its position 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 buying an additional 6,322,645 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of QUALCOMM in the 2nd quarter valued at approximately $210,548,000. Finally, Parnassus Investments CA raised its position 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 buying an additional 3,000,000 shares in the last quarter. Institutional investors and hedge funds own 75.68% 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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