QUALCOMM Incorporated (QCOM) Given Consensus Recommendation of “Hold” by Brokerages
Shares of QUALCOMM Incorporated (NASDAQ:QCOM) have earned a consensus recommendation of “Hold” from the thirty-five research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $64.63.
Several equities research analysts recently weighed in on the company. BMO Capital Markets restated a “market perform” rating and set a $60.00 target price on shares of QUALCOMM in a research note on Saturday, April 22nd. Vetr cut QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 target price for the company. in a research note on Tuesday, May 2nd. Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a research note on Monday, May 15th. Deutsche Bank AG assumed coverage on QUALCOMM in a research note on Monday. They set a “hold” rating and a $62.00 target price for the company. Finally, Rosenblatt Securities cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Wednesday, April 19th.
Shares of QUALCOMM (NASDAQ:QCOM) opened at 57.61 on Tuesday. The stock has a market capitalization of $85.12 billion, a price-to-earnings ratio of 19.20 and a beta of 1.25. The stock’s 50 day moving average is $56.71 and its 200-day moving average is $58.50. QUALCOMM has a 52 week low of $50.84 and a 52 week high of $71.62.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 19th. The wireless technology company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.29. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. QUALCOMM had a return on equity of 21.32% and a net margin of 19.25%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, analysts anticipate that QUALCOMM will post $4.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st will be given a $0.57 dividend. 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 3.96%. The ex-dividend date of this dividend is Friday, May 26th. QUALCOMM’s dividend payout ratio is currently 76.00%.
In related news, Director Ann M. Livermore acquired 9,000 shares of QUALCOMM stock in a transaction dated Thursday, May 11th. The shares were acquired at an average cost of $54.59 per share, for a total transaction of $491,310.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 470 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total value of $26,921.60. Following the completion of the sale, the executive vice president now owns 3,049 shares in the company, valued at $174,646.72. The disclosure for this sale can be found here. Insiders sold 63,931 shares of company stock worth $3,536,013 over the last 90 days. Company insiders own 0.24% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Sterling Global Strategies LLC increased its stake in shares of QUALCOMM by 0.4% in the fourth quarter. Sterling Global Strategies LLC now owns 3,980 shares of the wireless technology company’s stock valued at $259,000 after buying an additional 14 shares in the last quarter. WealthTrust Axiom LLC increased its position in QUALCOMM by 0.3% in the first quarter. WealthTrust Axiom LLC now owns 5,804 shares of the wireless technology company’s stock valued at $332,000 after buying an additional 15 shares during the period. Liberty Capital Management Inc. increased its position in QUALCOMM by 0.4% in the first quarter. Liberty Capital Management Inc. now owns 6,797 shares of the wireless technology company’s stock valued at $390,000 after buying an additional 25 shares during the period. Mackenzie Financial Corp increased its position in QUALCOMM by 0.5% in the first quarter. Mackenzie Financial Corp now owns 5,705 shares of the wireless technology company’s stock valued at $327,000 after buying an additional 30 shares during the period. Finally, Excalibur Management Corp increased its position in QUALCOMM by 0.7% in the first quarter. Excalibur Management Corp now owns 4,384 shares of the wireless technology company’s stock valued at $251,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 77.99% of the company’s stock.
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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