Qualcomm Inc. (QCOM) Given “Hold” Rating at Sanford C. Bernstein
Qualcomm Inc. (NASDAQ:QCOM)‘s stock had its “hold” rating restated by research analysts at Sanford C. Bernstein in a research note issued on Thursday.
A number of other equities analysts have also weighed in on QCOM. Morgan Stanley reiterated a “buy” rating on shares of Qualcomm in a research note on Wednesday, June 15th. Vetr upgraded Qualcomm from a “buy” rating to a “strong-buy” rating and set a $59.08 target price on the stock in a research note on Monday, June 27th. Evercore ISI lowered Qualcomm from a “buy” rating to a “hold” rating and lowered their target price for the stock from $60.00 to $55.00 in a research note on Friday, July 1st. KeyCorp reiterated a “buy” rating and set a $59.00 target price on shares of Qualcomm in a research note on Wednesday, July 6th. Finally, TheStreet lowered Qualcomm from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Qualcomm has an average rating of “Buy” and an average target price of $64.20.
Qualcomm (NASDAQ:QCOM) traded down 0.144% during trading on Thursday, reaching $65.965. The company’s stock had a trading volume of 4,986,389 shares. Qualcomm has a 1-year low of $42.24 and a 1-year high of $70.40. The stock has a market cap of $97.21 billion, a P/E ratio of 19.316 and a beta of 1.25. The company’s 50 day moving average price is $63.99 and its 200-day moving average price is $57.17.
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Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm posted $0.99 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Qualcomm will post $4.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a yield of 3.21%. Qualcomm’s payout ratio is 62.17%.
In other Qualcomm news, EVP Matthew S. Grob sold 33,000 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $59.85, for a total transaction of $1,975,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $68.18, for a total transaction of $136,360.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
Large investors have recently modified their holdings of the stock. State Street Corp boosted its position in Qualcomm by 0.8% in the first quarter. State Street Corp now owns 60,697,939 shares of the wireless technology company’s stock valued at $3,104,087,000 after buying an additional 468,777 shares during the last quarter. FMR LLC boosted its position in Qualcomm by 9.2% in the second quarter. FMR LLC now owns 56,983,582 shares of the wireless technology company’s stock valued at $3,052,610,000 after buying an additional 4,823,120 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Qualcomm by 5.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,598,005 shares of the wireless technology company’s stock valued at $1,157,005,000 after buying an additional 1,086,071 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Qualcomm by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,597,886 shares of the wireless technology company’s stock valued at $1,029,585,000 after buying an additional 1,900,206 shares during the last quarter. Finally, Primecap Management Co. CA boosted its position in Qualcomm by 6.1% in the second quarter. Primecap Management Co. CA now owns 17,320,124 shares of the wireless technology company’s stock valued at $927,839,000 after buying an additional 989,199 shares during the last quarter. 78.05% of the stock is currently owned by institutional investors and hedge funds.
Qualcomm Company Profile
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.
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