QUALCOMM Incorporated (NASDAQ:QCOM) Receives Consensus Recommendation of “Hold” from Brokerages
QUALCOMM Incorporated (NASDAQ:QCOM) has received an average recommendation of “Hold” from the thirty-four brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $63.26.
Several brokerages have weighed in on QCOM. Vetr downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $60.62 price target for the company. in a report on Monday, May 22nd. Stifel Nicolaus boosted their price target on QUALCOMM from $56.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 26th. BMO Capital Markets reiterated a “market perform” rating on shares of QUALCOMM in a report on Sunday, May 21st. J P Morgan Chase & Co upgraded QUALCOMM from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $50.00 to $68.00 in a report on Monday, May 22nd. Finally, Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 20th.
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QUALCOMM (NASDAQ:QCOM) traded up 0.67% during midday trading on Friday, hitting $52.69. The stock had a trading volume of 1,351,314 shares. The firm has a market cap of $77.77 billion, a P/E ratio of 20.18 and a beta of 1.29. The stock has a 50-day moving average price of $54.58 and a 200 day moving average price of $55.62. QUALCOMM has a 12-month low of $51.05 and a 12-month high of $71.62.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the firm posted $1.16 EPS. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities analysts anticipate that QUALCOMM will post $4.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, August 28th. This represents a $2.28 annualized dividend and a yield of 4.36%. QUALCOMM’s dividend payout ratio (DPR) is 87.36%.
In related news, President Derek K. Aberle sold 23,104 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total transaction of $1,279,499.52. Following the sale, the president now owns 5,855 shares in the company, valued at $324,249.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 470 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $57.28, for a total transaction of $26,921.60. Following the sale, the executive vice president now owns 3,049 shares in the company, valued at approximately $174,646.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,101 shares of company stock worth $2,955,612. 0.17% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in QUALCOMM by 3.6% in the first quarter. Fisher Asset Management LLC now owns 10,041,310 shares of the wireless technology company’s stock valued at $575,769,000 after buying an additional 352,962 shares during the period. Artisan Partners Limited Partnership raised its stake in QUALCOMM by 3.1% in the second quarter. Artisan Partners Limited Partnership now owns 9,732,445 shares of the wireless technology company’s stock valued at $537,426,000 after buying an additional 288,413 shares during the period. Veritas Asset Management LLP acquired a new stake in QUALCOMM during the second quarter valued at $440,415,000. Legal & General Group Plc raised its stake in QUALCOMM by 1.8% in the second quarter. Legal & General Group Plc now owns 7,897,041 shares of the wireless technology company’s stock valued at $436,076,000 after buying an additional 137,733 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in QUALCOMM by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,334,442 shares of the wireless technology company’s stock valued at $405,008,000 after buying an additional 439,180 shares during the period. Hedge funds and other institutional investors own 76.61% 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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