QUALCOMM (NASDAQ:QCOM) had its target price decreased by Deutsche Bank from $80.00 to $75.00 in a research report report published on Thursday morning, The Fly reports. Deutsche Bank currently has an in-line rating on the wireless technology company’s stock.
Several other research firms have also issued reports on QCOM. Sanford C. Bernstein set a $60.00 price target on QUALCOMM and gave the stock a hold rating in a research report on Wednesday, April 17th. Macquarie set a $90.00 target price on QUALCOMM and gave the company a buy rating in a research report on Thursday, May 23rd. Mizuho upped their target price on QUALCOMM from $65.00 to $68.00 in a research report on Friday, July 12th. DZ Bank cut QUALCOMM from a buy rating to a hold rating and decreased their target price for the company from $98.00 to $74.00 in a research report on Thursday, May 23rd. Finally, Rosenblatt Securities reissued a buy rating and issued a $84.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $79.93.
Shares of QUALCOMM stock traded down $1.45 on Thursday, hitting $69.71. The stock had a trading volume of 1,605,443 shares, compared to its average volume of 12,079,326. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.39 and a current ratio of 1.77. QUALCOMM has a one year low of $49.10 and a one year high of $90.34. The firm has a market cap of $86.49 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.53 and a beta of 1.62. The firm has a 50-day moving average of $74.44.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business’s revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business earned $1.01 earnings per share. On average, equities analysts anticipate that QUALCOMM will post 3.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In other news, EVP Donald J. Rosenberg sold 7,141 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $84.56, for a total transaction of $603,842.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,560 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 three months, insiders have sold 41,069 shares of company stock valued at $3,489,942. Company insiders own 0.11% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Comerica Securities Inc. raised its holdings in shares of QUALCOMM by 1.3% in the 4th quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock valued at $1,615,000 after buying an additional 370 shares during the period. American Century Companies Inc. raised its holdings in shares of QUALCOMM by 24.7% in the 4th quarter. American Century Companies Inc. now owns 2,090,201 shares of the wireless technology company’s stock valued at $118,953,000 after buying an additional 413,531 shares during the period. Valueworks LLC raised its holdings in shares of QUALCOMM by 7.3% in the 4th quarter. Valueworks LLC now owns 143,416 shares of the wireless technology company’s stock valued at $8,162,000 after buying an additional 9,741 shares during the period. Jackson Hole Capital Partners LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $720,000. Finally, Pinnacle Bank purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $293,000. 76.18% of the stock is owned by institutional investors and hedge funds.
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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