QUALCOMM (QCOM) Earns “Outperform” Rating from Cowen
Cowen reaffirmed their outperform rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note issued to investors on Thursday, Briefing.com Automated Import reports. Cowen currently has a $80.00 price target on the wireless technology company’s stock, down from their prior price target of $100.00.
A number of other equities analysts have also issued reports on the stock. Morgan Stanley raised shares of QUALCOMM from an equal weight rating to an overweight rating and raised their price target for the stock from $55.00 to $95.00 in a research report on Tuesday, April 23rd. BidaskClub lowered shares of QUALCOMM from a sell rating to a strong sell rating in a research report on Tuesday, January 29th. JPMorgan Chase & Co. reissued a buy rating and set a $88.00 price target on shares of QUALCOMM in a research report on Tuesday, April 23rd. Mizuho reduced their price target on shares of QUALCOMM from $66.00 to $62.00 and set a buy rating for the company in a research report on Thursday, January 31st. Finally, Deutsche Bank reissued a hold rating on shares of QUALCOMM in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. QUALCOMM presently has a consensus rating of Buy and an average target price of $80.05.
QCOM stock opened at $66.21 on Thursday. The company has a market capitalization of $80.49 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.71 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $90.34.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Wednesday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.
In other news, Director Clark T. Jr. Randt sold 2,000 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michelle M. Sterling sold 5,560 shares of QUALCOMM stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total transaction of $480,606.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 949,832 shares of company stock valued at $37,443,538. Insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Investors Inc. PA boosted its holdings in shares of QUALCOMM by 91.5% during the third quarter. Federated Investors Inc. PA now owns 94,917 shares of the wireless technology company’s stock worth $6,837,000 after acquiring an additional 45,360 shares during the period. Boston Advisors LLC boosted its holdings in shares of QUALCOMM by 17.5% during the fourth quarter. Boston Advisors LLC now owns 4,025 shares of the wireless technology company’s stock worth $229,000 after acquiring an additional 600 shares during the period. Lavaca Capital LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $25,000. Lincoln Capital Corp bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $1,587,000. Finally, Boenning & Scattergood Inc. boosted its holdings in shares of QUALCOMM by 3.1% during the fourth quarter. Boenning & Scattergood Inc. now owns 6,537 shares of the wireless technology company’s stock worth $372,000 after acquiring an additional 197 shares during the period. 77.95% of the stock is owned by institutional investors.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
Further Reading: Earnings Per Share (EPS) Explained
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