Qualcomm Inc. (NASDAQ:QCOM) Receives Average Rating of “Buy” from Analysts
Shares of Qualcomm Inc. (NASDAQ:QCOM) have earned an average recommendation of “Buy” from the thirty-nine brokerages that are presently covering the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $61.59.
Several research firms have recently issued reports on QCOM. Royal Bank Of Canada raised their target price on shares of Qualcomm from $55.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, July 21st. Vetr lowered shares of Qualcomm from a “strong-buy” rating to a “buy” rating and set a $69.01 target price for the company. in a report on Monday. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Qualcomm in a report on Tuesday. TheStreet upgraded shares of Qualcomm from a “hold” rating to a “buy” rating in a report on Friday, May 27th. Finally, Nomura restated a “neutral” rating and issued a $55.00 target price on shares of Qualcomm in a report on Thursday, July 21st.
In related news, Director Raymond V. Dittamore sold 7,000 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the completion of the sale, the director now owns 12,765 shares of the company’s stock, valued at $778,665. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $60.94, for a total transaction of $609,400.00. Following the completion of the sale, the executive vice president now directly owns 59,497 shares of the company’s stock, valued at approximately $3,625,747.18. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Several large investors have recently made changes to their positions in QCOM. Pinkerton Retirement Specialists LLC raised its stake in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock worth $111,000 after buying an additional 2,018 shares in the last quarter. Krilogy Financial LLC raised its stake in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares in the last quarter. CapWealth Advisors LLC raised its stake in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Qualcomm during the second quarter worth about $121,000. 78.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Qualcomm (NASDAQ:QCOM) traded down 0.49% during midday trading on Tuesday, reaching $62.55. 1,701,406 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $62.28 and its 200 day moving average price is $55.57. Qualcomm has a 12-month low of $42.24 and a 12-month high of $63.70. The company has a market cap of $92.18 billion, a price-to-earnings ratio of 18.32 and a beta of 1.22.
Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. The firm earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.99 EPS. Equities analysts anticipate that Qualcomm will post $4.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Monday, August 29th. Qualcomm’s payout ratio is 62.17%.
Qualcomm Company Profile
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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