QUALCOMM Incorporated (NASDAQ:QCOM) Given Average Rating of “Buy” by Analysts

QUALCOMM Incorporated (NASDAQ:QCOM) has earned an average recommendation of “Buy” from the twenty-nine ratings firms that are currently covering the stock, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $163.65.

A number of equities research analysts recently issued reports on the company. Morgan Stanley lifted their target price on QUALCOMM from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. Evercore ISI reissued an “in-line” rating and issued a $150.00 target price (down previously from $195.00) on shares of QUALCOMM in a research report on Monday, April 19th. Citigroup dropped their target price on QUALCOMM from $165.00 to $154.00 in a research report on Thursday, April 29th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, March 4th. Finally, Susquehanna Bancshares lowered QUALCOMM to a “neutral” rating and dropped their target price for the company from $175.00 to $155.00 in a research report on Monday, April 19th.

In other QUALCOMM news, CAO Erin L. Polek sold 1,835 shares of QUALCOMM stock in a transaction on Friday, May 21st. The stock was sold at an average price of $132.00, for a total value of $242,220.00. Also, EVP Brian Modoff sold 1,510 shares of QUALCOMM stock in a transaction on Friday, May 14th. The shares were sold at an average price of $129.32, for a total value of $195,273.20. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. Wealthcare Capital Management LLC acquired a new position in QUALCOMM in the 1st quarter valued at $26,000. GeoWealth Management LLC raised its holdings in QUALCOMM by 308.0% in the 1st quarter. GeoWealth Management LLC now owns 204 shares of the wireless technology company’s stock valued at $27,000 after acquiring an additional 154 shares in the last quarter. Capital Directions Investment Advisors LLC raised its holdings in QUALCOMM by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. RMR Wealth Builders acquired a new position in shares of QUALCOMM during the 4th quarter worth $30,000. Finally, Valley Brook Capital Group acquired a new position in shares of QUALCOMM during the 4th quarter worth $30,000. 72.53% of the stock is owned by hedge funds and other institutional investors.

NASDAQ QCOM opened at $134.22 on Friday. The firm has a market capitalization of $151.40 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 0.93 and a beta of 1.32. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.72 and a current ratio of 2.02. The stock’s 50-day simple moving average is $134.68. QUALCOMM has a one year low of $83.10 and a one year high of $167.94.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.49. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.62 billion. QUALCOMM had a return on equity of 103.71% and a net margin of 27.28%. QUALCOMM’s revenue was up 52.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, analysts anticipate that QUALCOMM will post 6.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 24th. Investors of record on Thursday, June 3rd will be paid a $0.68 dividend. The ex-dividend date is Wednesday, June 2nd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.03%. QUALCOMM’s payout ratio is 81.44%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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