Mizuho reissued their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report report published on Wednesday, MarketBeat.com reports. They currently have a $64.00 price target on the wireless technology company’s stock, down from their previous price target of $75.00.
A number of other research analysts have also recently issued reports on the stock. Morgan Stanley initiated coverage on shares of QUALCOMM in a research note on Monday, March 19th. They issued an underweight rating and a $55.00 target price for the company. Vetr upgraded shares of QUALCOMM from a buy rating to a strong-buy rating and set a $76.13 target price for the company in a research note on Tuesday, January 2nd. Canaccord Genuity boosted their price objective on shares of QUALCOMM from $83.00 to $86.00 and gave the stock a buy rating in a research report on Wednesday, January 17th. KeyCorp boosted their price objective on shares of QUALCOMM from $68.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada boosted their price objective on shares of QUALCOMM from $77.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $67.38.
NASDAQ:QCOM opened at $55.23 on Wednesday. QUALCOMM has a 1 year low of $48.92 and a 1 year 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. The company has a market capitalization of $81,938.09, a PE ratio of 14.61, a PEG ratio of 1.72 and a beta of 1.44.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. QUALCOMM’s quarterly revenue was up 1.7% compared to the same quarter last year. sell-side analysts anticipate that QUALCOMM will post 2.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 30th will be given a dividend of $0.62 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.57. The ex-dividend date is Tuesday, May 29th. This represents a $2.48 annualized dividend and a dividend yield of 4.49%. QUALCOMM’s payout ratio is presently 60.32%.
In other QUALCOMM news, EVP James H. Thompson sold 50,126 shares of the company’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the completion of the sale, the executive vice president now owns 136,482 shares in the company, valued at approximately $8,551,962.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alexander H. Rogers sold 713 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now owns 10,403 shares of the company’s stock, valued at approximately $709,484.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,682 shares of company stock valued at $3,306,030 in the last quarter. Corporate insiders own 0.17% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Wrapmanager Inc. acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $369,000. Garde Capital Inc. grew its holdings in shares of QUALCOMM by 77.8% in the 3rd quarter. Garde Capital Inc. now owns 17,252 shares of the wireless technology company’s stock valued at $894,000 after buying an additional 7,547 shares during the period. Conning Inc. grew its holdings in shares of QUALCOMM by 16.4% in the 3rd quarter. Conning Inc. now owns 719,378 shares of the wireless technology company’s stock valued at $37,293,000 after buying an additional 101,483 shares during the period. Global Financial Private Capital LLC grew its holdings in shares of QUALCOMM by 8.1% in the 4th quarter. Global Financial Private Capital LLC now owns 39,953 shares of the wireless technology company’s stock valued at $2,558,000 after buying an additional 3,000 shares during the period. Finally, Ffcm LLC grew its holdings in shares of QUALCOMM by 44.7% in the 3rd quarter. Ffcm LLC now owns 101,475 shares of the wireless technology company’s stock valued at $5,261,000 after buying an additional 31,326 shares during the period. 78.00% of the stock is owned by institutional investors.
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QUALCOMM Company Profile
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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