QUALCOMM (NASDAQ:QCOM) Rating Lowered to Hold at BidaskClub

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BidaskClub downgraded shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a hold rating in a research report released on Friday morning, BidAskClub reports.

QCOM has been the subject of several other research reports. Sanford C. Bernstein set a $60.00 price target on QUALCOMM and gave the company a hold rating in a research note on Wednesday, April 17th. Evercore ISI upgraded QUALCOMM from an in-line rating to an outperform rating in a research note on Wednesday, April 17th. Cfra set a $80.00 price target on QUALCOMM and gave the company a buy rating in a research note on Thursday, May 23rd. Deutsche Bank started coverage on Markel in a research note on Thursday, May 23rd. They issued a hold rating and a $1,000.00 price target for the company. Finally, Morgan Stanley set a $40.00 price target on Halliburton and gave the company a buy rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $79.79.

NASDAQ QCOM opened at $75.43 on Friday. The company’s 50-day moving average is $71.94. The stock has a market cap of $91.06 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.79 and a beta of 1.63. QUALCOMM has a fifty-two week low of $49.10 and a fifty-two week high of $90.34. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.07. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.83 billion. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Sell-side analysts expect that QUALCOMM will post 3.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 6th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, June 5th. QUALCOMM’s payout ratio is 77.74%.

In other news, Director Clark T. Jr. Randt sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $89.58, for a total transaction of $179,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total value of $29,031,593.40. Following the transaction, the insider now owns 848,877 shares in the company, valued at $29,031,593.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 936,366 shares of company stock worth $36,635,578. 0.11% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of QCOM. ACG Wealth lifted its holdings in QUALCOMM by 2.6% in the first quarter. ACG Wealth now owns 7,749 shares of the wireless technology company’s stock valued at $442,000 after acquiring an additional 197 shares during the last quarter. Conning Inc. lifted its holdings in QUALCOMM by 5.7% in the first quarter. Conning Inc. now owns 826,550 shares of the wireless technology company’s stock valued at $47,138,000 after acquiring an additional 44,907 shares during the last quarter. World Asset Management Inc lifted its holdings in QUALCOMM by 18.5% in the first quarter. World Asset Management Inc now owns 91,562 shares of the wireless technology company’s stock valued at $5,222,000 after acquiring an additional 14,322 shares during the last quarter. Regent Investment Management LLC lifted its holdings in QUALCOMM by 12.5% in the first quarter. Regent Investment Management LLC now owns 4,492 shares of the wireless technology company’s stock valued at $256,000 after acquiring an additional 500 shares during the last quarter. Finally, OLD Second National Bank of Aurora lifted its holdings in QUALCOMM by 4.7% in the first quarter. OLD Second National Bank of Aurora now owns 37,027 shares of the wireless technology company’s stock valued at $2,112,000 after acquiring an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 76.27% 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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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