QUALCOMM Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:QCOM)
Shares of QUALCOMM (NASDAQ:QCOM) have been given a consensus rating of “Buy” by the thirty-three brokerages that are covering the company, Analyst Ratings Network.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $81.78.
QUALCOMM (NASDAQ:QCOM) opened at 76.10 on Tuesday. QUALCOMM has a 52-week low of $65.47 and a 52-week high of $81.97. The stock’s 50-day moving average is $76.25 and its 200-day moving average is $78.00. The company has a market cap of $127.5 billion and a price-to-earnings ratio of 17.37. QUALCOMM also saw unusually large options trading activity on Thursday. Stock traders purchased 24,728 call options on the stock. This represents an increase of 112% compared to the average daily volume of 11,646 call options.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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. Investors 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 2.21%. The ex-dividend date is Friday, August 29th.
A number of analysts have recently weighed in on QCOM shares. Analysts at Zacks reiterated a “neutral” rating on shares of QUALCOMM in a research note on Monday, August 25th. They now have a $81.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of QUALCOMM in a research note on Tuesday, August 19th. Finally, 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.
In other QUALCOMM news, EVP Cristiano R. Amon sold 2,634 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $77.17, for a total transaction of $203,265.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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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