BMO Capital Markets reaffirmed their underperform rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a report published on Sunday. They currently have a $53.00 price target on the wireless technology company’s stock.
A number of other analysts also recently commented on QCOM. Royal Bank Of Canada increased their price target on Qualcomm from $55.00 to $59.00 and gave the company an outperform rating in a research report on Thursday, July 21st. Nomura reaffirmed a neutral rating and set a $55.00 price target on shares of Qualcomm in a research report on Thursday, July 21st. Stifel Nicolaus increased their price target on Qualcomm from $59.00 to $67.00 and gave the company a buy rating in a research report on Thursday, July 21st. Sanford C. Bernstein reissued a hold rating on shares of Qualcomm in a report on Thursday, September 8th. Finally, Mizuho increased their price objective on Qualcomm from $50.00 to $56.00 and gave the company a neutral rating in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $63.11.
Qualcomm (NASDAQ:QCOM) traded up 1.56% during trading on Friday, hitting $68.50. The stock had a trading volume of 34,879,502 shares. The company has a 50-day moving average of $62.97 and a 200-day moving average of $56.28. The stock has a market capitalization of $100.94 billion, a P/E ratio of 20.06 and a beta of 1.22. Qualcomm has a 52 week low of $42.24 and a 52 week high of $70.40.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.19. The company earned $5.60 billion during the quarter, compared to the consensus estimate of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. Qualcomm’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share. On average, equities analysts expect that Qualcomm will post $4.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, August 31st were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s payout ratio is 62.17%.
In other news, Director Raymond V. Dittamore sold 7,000 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the sale, the director now owns 12,765 shares of the company’s stock, valued at approximately $778,665. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $62.37, for a total transaction of $124,740.00. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Large investors have recently modified their holdings of the stock. Williams Jones & Associates LLC increased its position in shares of Qualcomm by 2.1% in the second quarter. Williams Jones & Associates LLC now owns 18,110 shares of the wireless technology company’s stock valued at $970,000 after buying an additional 375 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Qualcomm during the second quarter valued at $3,177,000. Kentucky Retirement Systems purchased a new position in shares of Qualcomm during the second quarter valued at $6,692,000. Mason Street Advisors LLC purchased a new position in shares of Qualcomm during the second quarter valued at $10,599,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Qualcomm by 1.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 70,295 shares of the wireless technology company’s stock valued at $3,764,000 after buying an additional 739 shares in the last quarter. 78.05% of the stock is owned by hedge funds and other 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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