BMO Capital Markets reiterated their market perform rating on shares of QUALCOMM Incorporated (NASDAQ:QCOM) in a research report sent to investors on Thursday, August 24th. The firm currently has a $55.00 price objective on the wireless technology company’s stock.
Several other equities research analysts also recently weighed in on the company. UBS AG reaffirmed a neutral rating and issued a $58.00 target price on shares of QUALCOMM in a research report on Tuesday, May 2nd. Northland Securities cut QUALCOMM from an outperform rating to a market perform rating and cut their price target for the stock from $75.00 to $62.50 in a research note on Wednesday, June 28th. Zacks Investment Research upgraded QUALCOMM from a sell rating to a hold rating in a research note on Tuesday, August 8th. Rosenblatt Securities reiterated a neutral rating and issued a $56.00 price target on shares of QUALCOMM in a research note on Friday, June 30th. Finally, Wells Fargo & Company reiterated an outperform rating on shares of QUALCOMM in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, twenty have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and an average price target of $63.96.
QUALCOMM (NASDAQ QCOM) opened at 50.57 on Thursday. The company has a market cap of $74.64 billion, a PE ratio of 19.37 and a beta of 1.29. The firm’s 50-day moving average is $52.34 and its 200 day moving average is $55.24. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. Analysts predict that QUALCOMM will post $4.16 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 30th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Monday, August 28th. QUALCOMM’s dividend payout ratio is currently 87.36%.
In related news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the sale, the president now owns 5,855 shares in the company, valued at $324,249.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,995 shares of company stock worth $1,587,390. 0.24% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM in the second quarter valued at about $114,000. Krilogy Financial LLC lifted its stake in shares of QUALCOMM by 47.0% in the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after buying an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM in the second quarter valued at about $141,000. Jacobi Capital Management LLC lifted its stake in QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after purchasing an additional 250 shares during the period. Finally, Alpha Windward LLC lifted its stake in QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 77.03% of the company’s stock.
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.
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