QUALCOMM, Inc. (QCOM) Price Target Raised to $65.00 at Stifel Nicolaus
QUALCOMM, Inc. (NASDAQ:QCOM) had its price objective upped by research analysts at Stifel Nicolaus from $56.00 to $65.00 in a report released on Friday. The firm presently has a “buy” rating on the wireless technology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 11.21% from the company’s previous close.
Several other equities research analysts also recently weighed in on QCOM. BMO Capital Markets reaffirmed a “market perform” rating and set a $60.00 price target on shares of QUALCOMM in a report on Saturday, April 22nd. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price target for the company. in a research note on Tuesday, May 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Monday, May 15th. Rosenblatt Securities cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Wednesday, April 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $60.00 price objective on shares of QUALCOMM in a research report on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.26.
Shares of QUALCOMM (NASDAQ:QCOM) traded down 1.28% during midday trading on Friday, reaching $57.70. 1,883,868 shares of the company traded hands. The stock’s 50-day moving average is $54.93 and its 200-day moving average is $59.72. The stock has a market capitalization of $85.25 billion, a P/E ratio of 19.23 and a beta of 1.31. QUALCOMM has a 1-year low of $50.84 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.29. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Equities analysts predict that QUALCOMM will post $4.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, May 31st will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, May 26th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a dividend yield of 3.90%. QUALCOMM’s dividend payout ratio (DPR) is currently 64.63%.
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In other QUALCOMM news, Director Ann M. Livermore bought 9,000 shares of QUALCOMM stock in a transaction on Thursday, May 11th. The stock was bought at an average price of $54.59 per share, with a total value of $491,310.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 5,509 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $59.11, for a total value of $325,636.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,210 shares of company stock valued at $2,227,656. Corporate insiders own 0.24% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Aetna Inc. PA acquired a new stake in QUALCOMM during the fourth quarter worth approximately $12,411,000. Federated Investors Inc. PA increased its stake in QUALCOMM by 117.6% in the fourth quarter. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company’s stock worth $26,214,000 after buying an additional 217,276 shares during the period. Tredje AP fonden increased its stake in QUALCOMM by 8.8% in the fourth quarter. Tredje AP fonden now owns 176,442 shares of the wireless technology company’s stock worth $11,504,000 after buying an additional 14,307 shares during the period. ARGI Investment Services LLC increased its stake in QUALCOMM by 6.2% in the third quarter. ARGI Investment Services LLC now owns 25,285 shares of the wireless technology company’s stock worth $1,732,000 after buying an additional 1,474 shares during the period. Finally, GSA Capital Partners LLP increased its stake in QUALCOMM by 572.8% in the fourth quarter. GSA Capital Partners LLP now owns 114,706 shares of the wireless technology company’s stock worth $7,479,000 after buying an additional 97,656 shares during the period. 79.28% of the stock is owned by institutional investors.
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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