Qualcomm Inc. (QCOM) Stock Rating Lowered by Vetr Inc.
Vetr lowered shares of Qualcomm Inc. (NASDAQ:QCOM) from a buy rating to a hold rating in a report issued on Monday morning. Vetr currently has $71.00 target price on the wireless technology company’s stock.
Several other equities analysts also recently issued reports on QCOM. Royal Bank Of Canada upped their target price on Qualcomm from $55.00 to $59.00 and gave the company an outperform rating in a research report on Thursday, July 21st. Nomura reissued a neutral rating and issued a $55.00 target price on shares of Qualcomm in a research report on Thursday, July 21st. Stifel Nicolaus upped their target price on Qualcomm from $59.00 to $67.00 and gave the company a buy rating in a research report on Thursday, July 21st. Mizuho upped their price target on shares of Qualcomm from $50.00 to $56.00 and gave the company a neutral rating in a report on Thursday, July 21st. Finally, Sanford C. Bernstein reaffirmed a hold rating on shares of Qualcomm in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Qualcomm presently has an average rating of Buy and a consensus target price of $63.98.
Qualcomm (NASDAQ:QCOM) opened at 67.54 on Monday. The stock has a market capitalization of $99.53 billion, a P/E ratio of 19.78 and a beta of 1.25. The stock has a 50 day moving average price of $63.54 and a 200-day moving average price of $56.73. Qualcomm has a 1-year low of $42.24 and a 1-year high of $70.40.
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, beating the consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm earned $0.99 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Equities research analysts expect that Qualcomm will post $4.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.14%. Qualcomm’s dividend payout ratio is currently 62.17%.
In other Qualcomm news, EVP Matthew S. Grob sold 74,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $66.63, for a total value of $4,930,620.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Raymond V. Dittamore sold 18,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $68.39, for a total transaction of $1,231,020.00. Following the completion of the sale, the director now directly owns 5,813 shares in the company, valued at approximately $397,551.07. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Kelman Lazarov Inc. acquired a new stake in shares of Qualcomm during the first quarter valued at about $476,000. Delta Capital Management LLC increased its stake in shares of Qualcomm by 28.6% in the first quarter. Delta Capital Management LLC now owns 38,235 shares of the wireless technology company’s stock valued at $1,955,000 after buying an additional 8,495 shares during the period. Narwhal Capital Management increased its stake in shares of Qualcomm by 18.0% in the first quarter. Narwhal Capital Management now owns 19,695 shares of the wireless technology company’s stock valued at $1,007,000 after buying an additional 3,010 shares during the period. Boston Advisors LLC increased its stake in shares of Qualcomm by 12.1% in the first quarter. Boston Advisors LLC now owns 292,586 shares of the wireless technology company’s stock valued at $14,963,000 after buying an additional 31,466 shares during the period. Finally, Regent Investment Management LLC increased its stake in shares of Qualcomm by 2.8% in the first quarter. Regent Investment Management LLC now owns 10,887 shares of the wireless technology company’s stock valued at $557,000 after buying an additional 300 shares during the period. 78.05% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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