QUALCOMM Price Target Raised to $90.00 at Deutsche Bank (QCOM)
Equities research analysts at Deutsche Bank increased their price target on shares of QUALCOMM (NASDAQ:QCOM) from $86.00 to $90.00 in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective points to a potential upside of 11.98% from the company’s current price.
QCOM has been the subject of a number of other recent research reports. Analysts at Brean Capital raised their price target on shares of QUALCOMM from $83.00 to $89.00 in a research note on Thursday, April 24th. They now have a “buy” rating on the stock. Separately, analysts at Northland Securities raised their price target on shares of QUALCOMM from $72.00 to $82.50 in a research note on Thursday, April 24th. They now have a “market perform” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of QUALCOMM from $80.00 to $88.00 in a research note on Thursday, April 24th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $78.56.
In other QUALCOMM news, EVP Matthew S. Grob unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $79.88, for a total value of $1,597,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
QUALCOMM (NASDAQ:QCOM) traded up 0.51% on Wednesday, hitting $80.78. The stock had a trading volume of 3,652,822 shares. QUALCOMM has a 1-year low of $59.02 and a 1-year high of $81.66. The stock has a 50-day moving average of $79.24 and a 200-day moving average of $74.97. The company has a market cap of $136.3 billion and a price-to-earnings ratio of 20.17. QUALCOMM also was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 18,296,475 shares, a drop of 20.2% from the April 15th total of 22,931,523 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 10,889,206 shares, the short-interest ratio is currently 1.7 days.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.09. The company had revenue of $6.37 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter last year, the company posted $1.17 earnings per share. QUALCOMM’s revenue was up 4.0% compared to the same quarter last year. On average, analysts predict that QUALCOMM will post $5.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.35.
QUALCOMM Incorporated (NASDAQ:QCOM) is engaged in designing and manufacturing of digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies.
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