Several brokerages have updated their recommendations and price targets on shares of Qualcomm (NASDAQ: QCOM) in the last few weeks:

  • 9/21/2016 – Qualcomm was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Qualcomm, undisputed leader of the global wireless baseband chipset market, is expected to gain significantly in China in the near term through signing of new patent license agreements with Chinese smartphone makers. The company is actively involved in the production of chipsets for the 5G standard and is sharing partnership with U.S. telecom behemoths like Verizon and Ericsson for the same, which may propel growth in future. Moreover, Qualcomm is widening its presence in adjacent opportunities, including automotive, networking, mobile computing, and IoT and these strategies bode well for long-term growth. However, regulatory proceedings against Qualcomm are a major headwind. Also, the company is suffering from increased competition from MediaTek and Intel and has projected a soft revenue outlook for 2016.”
  • 9/20/2016 – Qualcomm had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $65.00 price target on the stock.
  • 9/19/2016 – Qualcomm was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $69.01 price target on the stock.
  • 9/12/2016 – Qualcomm was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $69.01 price target on the stock.
  • 9/8/2016 – Qualcomm had its “hold” rating reaffirmed by analysts at Sanford C. Bernstein.
  • 9/6/2016 – Qualcomm had its price target raised by analysts at Mizuho from $56.00 to $59.00. They now have a “neutral” rating on the stock.
  • 8/31/2016 – Qualcomm was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $66.21 price target on the stock.
  • 8/25/2016 – Qualcomm was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating. They now have a $72.00 price target on the stock.
  • 8/17/2016 – Qualcomm had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $65.00 price target on the stock.
  • 8/15/2016 – Qualcomm had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $70.00 price target on the stock.
  • 8/3/2016 – Qualcomm had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $70.00 price target on the stock.
  • 8/3/2016 – Qualcomm had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $65.00 price target on the stock.
  • 8/1/2016 – Qualcomm was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $60.68 price target on the stock.
  • 7/26/2016 – Qualcomm was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $68.00 price target on the stock. According to Zacks, “Qualcomm reported impressive financial results in the third quarter of 2016 wherein both the top- and the bottom-line surpassed past the Zacks Consensus Estimate. Qualcomm, inspite of ruling the global wireless baseband chipset market, is also widening its presence in adjacent markets, including automotive, networking, mobile computing and IoT which bode well for long-term growth.The company is actively involved in the production of chipsets for the 5G standard and is sharing partnership with U.S. telecom behemoths like Verizon Communications and Ericsson  for the same, which may propel growth in future.Additionally, the company launched an upgraded version – Snapdragon 821,to power the next-generation smartphones and extend the competitive strength of its Snapdragon 800 line-up.Moreover, signing of new patent license agreements with Chinese smartphone makers should boost Qualcomm’s top line.”
  • 7/25/2016 – Qualcomm was downgraded by analysts at Standpoint Research from a “buy” rating to a “hold” rating.
  • 7/24/2016 – Qualcomm had its “outperform” rating reaffirmed by analysts at Wells Fargo & Co.. They now have a $65.00 price target on the stock.
  • 7/24/2016 – Qualcomm had its “hold” rating reaffirmed by analysts at Brean Capital.

Qualcomm Inc. (NASDAQ:QCOM) traded up 1.39% during mid-day trading on Wednesday, hitting $63.57. 7,407,133 shares of the stock were exchanged. The company has a 50-day moving average of $62.31 and a 200-day moving average of $55.64. Qualcomm Inc. has a 52 week low of $42.24 and a 52 week high of $63.70. The stock has a market capitalization of $93.68 billion, a PE ratio of 18.61 and a beta of 1.22.

Qualcomm (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that Qualcomm Inc. will post $4.29 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.33%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.

In other news, EVP Matthew S. Grob sold 2,000 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond V. Dittamore sold 7,000 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the sale, the director now directly owns 12,765 shares of the company’s stock, valued at $778,665. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

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.

5 Day Chart for NASDAQ:QCOM

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