QUALCOMM Receives Neutral Rating from Zacks (QCOM)
QUALCOMM (NASDAQ:QCOM)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday. They currently have a $81.00 target price on the stock. Zacks‘s price objective would indicate a potential upside of 5.44% from the company’s current price.
Zacks’ analyst wrote, “Qualcomm reported robust financial results for the third quarter of fiscal 2014. Both the top and the bottom line significantly outpaced the respective Zacks Consensus Estimate. However, Qualcomm is facing challenges related to its licensing business in China. Management stated that the company is currently in royalty dispute with a major customer in that country. Moreover, some small companies are yet to agree on royalty payment. Some companies are also under-reporting the amount of phones sold, for which they should have paid license fees. Meanwhile, Qualcomm’s latest chipsets for WiFi, RF360, multimode 3G and 4G LTE from its flagship Snapdragon platform have been doing extremely well. The company leads the global mobile baseband chipset market. We believe the stock is currently fairly valued and therefore, reaffirm our Neutral recommendation. “
In other QUALCOMM news, Chairman Paul E. Jacobs unloaded 125,652 shares of QUALCOMM stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $76.05, for a total value of $9,555,834.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
QUALCOMM (NASDAQ:QCOM) traded down 0.22% on Monday, hitting $76.6526. The stock had a trading volume of 1,896,566 shares. QUALCOMM has a 52 week low of $65.47 and a 52 week high of $81.97. The stock has a 50-day moving average of $76.71 and a 200-day moving average of $77.89. The company has a market cap of $128.5 billion and a price-to-earnings ratio of 17.47.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.44 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $5.32 earnings per share 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 2.19%. The ex-dividend date is Friday, August 29th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of QUALCOMM in a research note on Tuesday, August 19th. Separately, 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. Finally, 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. Thirteen investment 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 a consensus price target of $81.78.
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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