Qualcomm Inc. (NASDAQ:QCOM) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Monday. The firm currently has a $76.60 target price on the wireless technology company’s stock. Vetr‘s price objective would suggest a potential upside of 14.72% from the company’s previous close.

Several other research analysts also recently commented on the stock. Morgan Stanley downgraded shares of Qualcomm from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $67.88 to $65.00 in a report on Thursday, November 10th. They noted that the move was a valuation call. Cowen and Company restated an “outperform” rating and set a $74.00 target price on shares of Qualcomm in a research report on Monday, November 7th. Canaccord Genuity restated a “buy” rating and set a $81.00 target price on shares of Qualcomm in a research report on Friday, November 4th. Pacific Crest restated a “buy” rating and set a $83.00 target price on shares of Qualcomm in a research report on Thursday, November 3rd. Finally, BMO Capital Markets decreased their target price on shares of Qualcomm from $70.00 to $67.00 and set a “market perform” rating on the stock in a research report on Thursday, November 3rd. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Qualcomm presently has a consensus rating of “Buy” and an average target price of $66.05.

Analyst Recommendations for Qualcomm (NASDAQ:QCOM)

Shares of Qualcomm (NASDAQ:QCOM) opened at 66.77 on Monday. The firm’s 50-day moving average price is $67.23 and its 200 day moving average price is $60.96. The company has a market capitalization of $98.61 billion, a PE ratio of 17.52 and a beta of 1.36. Qualcomm has a 52-week low of $42.24 and a 52-week high of $71.62.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. Qualcomm had a net margin of 24.22% and a return on equity of 19.31%. The business earned $9.17 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 68.2% on a year-over-year basis. On average, equities analysts forecast that Qualcomm will post $4.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Monday, November 28th. Qualcomm’s dividend payout ratio (DPR) is 55.64%.

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In related news, Director Stiles Barbara Alexander sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $68.52, for a total transaction of $1,507,440.00. Following the sale, the director now directly owns 2,440 shares of the company’s stock, valued at approximately $167,188.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond V. Dittamore sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $68.39, for a total transaction of $1,231,020.00. Following the transaction, the director now owns 5,813 shares of the company’s stock, valued at approximately $397,551.07. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its position 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 period. BlackRock Institutional Trust Company N.A. boosted its position in Qualcomm by 2.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 39,745,533 shares of the wireless technology company’s stock valued at $2,722,569,000 after buying an additional 780,682 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position 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 period. BlackRock Fund Advisors boosted its position in Qualcomm by 16.5% in the third quarter. BlackRock Fund Advisors now owns 21,432,143 shares of the wireless technology company’s stock valued at $1,468,102,000 after buying an additional 3,035,542 shares during the period. Finally, Northern Trust Corp boosted its position in Qualcomm by 2.6% in the third quarter. Northern Trust Corp now owns 20,283,988 shares of the wireless technology company’s stock valued at $1,389,454,000 after buying an additional 513,204 shares during the period. Institutional investors own 78.54% of the company’s stock.

About Qualcomm

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.

5 Day Chart for NASDAQ:QCOM

To view Vetr’s full report, visit Vetr’s official website.

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