Qualcomm Inc. (QCOM) Stock Rating Reaffirmed by BNP Paribas
BNP Paribas reiterated their hold rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a research report released on Sunday morning. BNP Paribas currently has a $54.00 target price on the wireless technology company’s stock.
QCOM has been the topic of several other research reports. Vetr raised Qualcomm from a buy rating to a strong-buy rating and set a $71.00 price objective on the stock in a report on Monday, September 26th. Zacks Investment Research downgraded Qualcomm from a buy rating to a hold rating in a research note on Wednesday, September 21st. BMO Capital Markets reissued an underperform rating and issued a $53.00 price target on shares of Qualcomm in a research note on Sunday, October 2nd. Standpoint Research raised Qualcomm from a hold rating to a buy rating and set a $72.00 price target on the stock in a research note on Thursday, August 25th. Finally, Cowen and Company increased their price target on Qualcomm from $62.00 to $74.00 and gave the company an outperform rating in a research note on Friday, September 30th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $64.05.
Shares of Qualcomm (NASDAQ:QCOM) opened at 68.19 on Friday. The firm has a market cap of $100.49 billion, a PE ratio of 19.97 and a beta of 1.25. Qualcomm has a 52-week low of $42.24 and a 52-week high of $70.40. The company’s 50-day moving average price is $63.68 and its 200-day moving average price is $56.84.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business earned $0.99 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that Qualcomm will post $4.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 annualized dividend and a dividend yield of 3.11%. Qualcomm’s dividend payout ratio is currently 62.17%.
In other news, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the sale, the director now directly owns 12,765 shares of the company’s stock, valued at $778,665. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $62.37, for a total transaction of $124,740.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Several large investors have recently bought and sold shares of QCOM. State Street Corp increased its stake in Qualcomm by 0.8% in the first quarter. State Street Corp now owns 60,697,939 shares of the wireless technology company’s stock valued at $3,104,087,000 after buying an additional 468,777 shares during the last quarter. FMR LLC increased its stake in Qualcomm by 9.2% in the second quarter. FMR LLC now owns 56,983,582 shares of the wireless technology company’s stock valued at $3,052,610,000 after buying an additional 4,823,120 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Qualcomm by 5.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,598,005 shares of the wireless technology company’s stock valued at $1,157,005,000 after buying an additional 1,086,071 shares during the last quarter. Primecap Management Co. CA increased its stake in Qualcomm by 6.1% in the second quarter. Primecap Management Co. CA now owns 17,320,124 shares of the wireless technology company’s stock valued at $927,839,000 after buying an additional 989,199 shares during the last quarter. Finally, Orbis Allan Gray Ltd acquired a new stake in Qualcomm during the first quarter valued at approximately $865,645,000. 78.05% of the stock is 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.
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