Several other analysts also recently weighed in on the company. Bank of America lowered their target price on QUALCOMM from $105.00 to $100.00 and set a buy rating for the company in a research note on Thursday, August 1st. Cfra set a $80.00 price target on QUALCOMM and gave the stock a buy rating in a research note on Thursday, May 23rd. Macquarie set a $90.00 price target on QUALCOMM and gave the company a buy rating in a report on Thursday, May 23rd. Royal Bank of Canada restated a sector perform rating and set a $79.00 price objective on shares of QUALCOMM in a research note on Monday, July 22nd. Finally, Barclays downgraded QUALCOMM from an overweight rating to an equal weight rating and dropped their price objective for the stock from $90.00 to $75.00 in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $79.68.
QUALCOMM stock opened at $78.71 on Friday. The stock’s 50 day moving average price is $74.33 and its 200 day moving average price is $70.35. The firm has a market capitalization of $95.84 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.59. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. QUALCOMM has a one year low of $49.10 and a one year high of $90.34.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. QUALCOMM’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, analysts forecast that QUALCOMM will post 2.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio is currently 77.74%.
In other QUALCOMM news, SVP Erin L. Polek sold 1,478 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.36, for a total value of $103,992.08. Following the completion of the transaction, the senior vice president now directly owns 1,386 shares in the company, valued at $97,518.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark D. Mclaughlin bought 2,705 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $73.84 per share, with a total value of $199,737.20. Following the completion of the purchase, the director now owns 5,220 shares of the company’s stock, valued at $385,444.80. The disclosure for this purchase can be found here. Company insiders own 0.11% of the company’s stock.
Several institutional investors have recently made changes to their positions in QCOM. Comerica Securities Inc. raised its holdings in QUALCOMM by 1.3% during the fourth quarter. Comerica Securities Inc. now owns 28,376 shares of the wireless technology company’s stock worth $1,615,000 after purchasing an additional 370 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of QUALCOMM by 16.2% in the 1st quarter. Janus Henderson Group PLC now owns 377,404 shares of the wireless technology company’s stock worth $21,525,000 after buying an additional 52,567 shares in the last quarter. Destination Wealth Management lifted its holdings in shares of QUALCOMM by 2.4% in the first quarter. Destination Wealth Management now owns 251,696 shares of the wireless technology company’s stock valued at $14,354,000 after buying an additional 5,819 shares during the period. Ironwood Investment Counsel LLC acquired a new stake in shares of QUALCOMM in the first quarter valued at $224,000. Finally, Schneider Downs Wealth Management Advisors LP acquired a new stake in shares of QUALCOMM in the first quarter valued at $399,000. Institutional investors and hedge funds own 78.73% of the company’s stock.
QUALCOMM Company Profile
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.
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