QUALCOMM, Inc. (NASDAQ:QCOM) gapped up before the market opened on Tuesday . The stock had previously closed at $74.33, but opened at $76.62. QUALCOMM shares last traded at $77.75, with a volume of 17268676 shares traded.
QCOM has been the topic of a number of research analyst reports. Morgan Stanley raised QUALCOMM from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $95.00 in a research report on Tuesday, April 23rd. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $88.00 price target on shares of QUALCOMM in a research report on Tuesday, April 23rd. Mizuho dropped their price target on QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, January 31st. Finally, UBS Group reaffirmed a “neutral” rating and set a $55.00 price target (down previously from $64.00) on shares of QUALCOMM in a research report on Thursday, January 31st. Eight analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM has a consensus rating of “Buy” and an average target price of $83.09.
The stock has a market cap of $99.08 billion, a PE ratio of 24.37, a P/E/G ratio of 1.79 and a beta of 1.45. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39.
QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the firm earned $0.80 EPS. QUALCOMM’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts anticipate that QUALCOMM, Inc. will post 3.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Wednesday, June 5th. QUALCOMM’s dividend payout ratio is presently 77.74%.
In other QUALCOMM news, SVP Erin L. Polek sold 6,118 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.26, for a total value of $546,092.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 949,832 shares of company stock valued at $37,443,538. Corporate insiders own 0.11% of the company’s stock.
A number of hedge funds have recently bought and sold shares of QCOM. Lavaca Capital LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $25,000. Farmers National Bank bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $29,000. Field & Main Bank bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $32,000. Finally, Baldwin Brothers Inc. MA bought a new position in shares of QUALCOMM during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.
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QUALCOMM Company Profile (NASDAQ:QCOM)
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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