Deutsche Bank Reiterates “Buy” Rating for QUALCOMM (QCOM)
In other QUALCOMM news, EVP Donald J. Rosenberg sold 33,000 shares of QUALCOMM stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $74.81, for a total transaction of $2,468,730.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on QCOM. Analysts at Sanford C. Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $80.00 price target on the stock. Separately, analysts at Bernstein downgraded shares of QUALCOMM from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 31st. They now have a $80.00 price target on the stock, down previously from $85.00. Finally, analysts at Nomura reiterated a “buy” rating on shares of QUALCOMM in a research note on Thursday, July 24th. They now have a $85.00 price target on the stock, down previously from $90.00. Twelve equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and an average price target of $81.81.
QUALCOMM (NASDAQ:QCOM) traded up 0.13% on Tuesday, hitting $75.13. The stock had a trading volume of 7,657,191 shares. QUALCOMM has a 1-year low of $65.47 and a 1-year high of $81.97. The stock’s 50-day moving average is $77.13 and its 200-day moving average is $77.84. The company has a market cap of $125.9 billion and a price-to-earnings ratio of 17.07.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.22. The company had revenue of $6.80 million for the quarter, compared to the consensus estimate of $6.52 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that QUALCOMM will post $5.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, August 29th.
QUALCOMM Incorporated (NASDAQ:QCOM), is engaged in design, manufacture, have manufactured on its behalf and market digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies.
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