QUALCOMM Incorporated (QCOM) Receives Average Recommendation of “Hold” from Analysts
QUALCOMM Incorporated (NASDAQ:QCOM) has been given an average rating of “Hold” by the thirty-three research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $62.70.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a “buy” rating on shares of QUALCOMM in a report on Thursday, October 12th. Northland Securities upgraded QUALCOMM from a “market perform” rating to an “outperform” rating and set a $62.50 price target for the company in a report on Friday, September 15th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of QUALCOMM in a report on Wednesday, September 6th. Finally, William Blair reiterated a “market perform” rating on shares of QUALCOMM in a report on Tuesday, September 5th.
In other QUALCOMM news, EVP Michelle M. Sterling sold 4,740 shares of QUALCOMM stock in a transaction on Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 5,810 shares of company stock valued at $301,596 in the last quarter. 0.24% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of QCOM. FMR LLC increased its holdings in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Veritas Asset Management LLP bought a new stake in shares of QUALCOMM in the second quarter worth $440,415,000. Capital International Investors grew its holdings in shares of QUALCOMM by 59.9% in the second quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after acquiring an additional 5,671,176 shares during the period. Baupost Group LLC MA bought a new stake in shares of QUALCOMM in the first quarter worth $299,085,000. Finally, Nordea Investment Management AB grew its holdings in shares of QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after acquiring an additional 5,054,642 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.
QUALCOMM (NASDAQ QCOM) opened at 54.25 on Wednesday. The stock’s 50 day moving average is $51.99 and its 200 day moving average is $54.10. The company has a market capitalization of $80.08 billion, a PE ratio of 20.78 and a beta of 1.28. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $71.62.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s payout ratio is presently 87.36%.
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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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