Qualcomm Inc. (NASDAQ:QCOM) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a $71.00 target price on the wireless technology company’s stock. Vetr‘s price objective indicates a potential upside of 3.65% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Qualcomm from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. BMO Capital Markets reaffirmed an “underperform” rating and set a $53.00 price target on shares of Qualcomm in a research note on Sunday. Standpoint Research raised shares of Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Thursday, August 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 price target on shares of Qualcomm in a research note on Thursday, September 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Qualcomm in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $63.11.
Qualcomm (NASDAQ:QCOM) opened at 68.50 on Monday. The company’s 50-day moving average is $62.97 and its 200-day moving average is $56.28. Qualcomm has a 12 month low of $42.24 and a 12 month high of $70.40. The company has a market cap of $100.94 billion, a price-to-earnings ratio of 20.06 and a beta of 1.22.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The business earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the business earned $0.99 EPS. Qualcomm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Qualcomm will post $4.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a yield of 3.09%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
In other Qualcomm news, EVP Matthew S. Grob sold 74,000 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $66.63, for a total value of $4,930,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond V. Dittamore sold 7,000 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the completion of the transaction, the director now owns 12,765 shares of the company’s stock, valued at approximately $778,665. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Krilogy Financial LLC boosted its position in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares in the last quarter. Pinkerton Retirement Specialists LLC boosted its position in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock worth $111,000 after buying an additional 2,018 shares in the last quarter. CapWealth Advisors LLC boosted its position in shares of Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in shares of Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new position in shares of Qualcomm during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 78.05% 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.
To view Vetr’s full report, visit Vetr’s official website.
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