Qualcomm Inc. (QCOM) Given “Sector Perform” Rating at RBC Capital Markets
RBC Capital Markets reissued their sector perform rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a research report sent to investors on Monday. They currently have a $70.00 price target on the wireless technology company’s stock, up from their previous price target of $59.00.
QCOM has been the subject of several other reports. BMO Capital Markets cut Qualcomm from a market perform rating to an underperform rating and set a $50.00 target price for the company. in a report on Thursday, July 14th. Mizuho upped their price target on Qualcomm from $56.00 to $59.00 and gave the company a neutral rating in a research report on Tuesday, September 6th. Morgan Stanley reaffirmed an overweight rating and set a $65.00 price target on shares of Qualcomm in a research report on Tuesday, September 20th. Pacific Crest upped their price target on Qualcomm from $59.00 to $67.00 and gave the company an overweight rating in a research report on Thursday, July 21st. Finally, Evercore ISI lowered Qualcomm from a buy rating to a hold rating and lowered their price target for the company from $60.00 to $55.00 in a research report on Friday, July 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $63.98.
Qualcomm (NASDAQ:QCOM) opened at 67.30 on Monday. The stock has a market cap of $99.18 billion, a PE ratio of 19.71 and a beta of 1.25. The company’s 50 day moving average price is $63.13 and its 200 day moving average price is $56.47. Qualcomm has a 12 month low of $42.24 and a 12 month high of $70.40.
Qualcomm (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.19. The company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. Qualcomm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. Equities analysts forecast that Qualcomm will post $4.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s dividend payout ratio is presently 62.17%.
In related news, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the transaction, the director now directly owns 12,765 shares of the company’s stock, valued at approximately $778,665. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Pinkerton Retirement Specialists LLC increased its position 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 during the period. Krilogy Financial LLC increased its position 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 during the period. CapWealth Advisors LLC increased its position 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 during the period. Joel Isaacson & Co. LLC increased its position 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 during the period. Finally, Americafirst Capital Management LLC acquired a new position in shares of Qualcomm during the second quarter worth approximately $121,000. 78.05% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Qualcomm Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qualcomm Inc. and related companies with MarketBeat.com's FREE daily email newsletter.