Qualcomm Inc. (NASDAQ:QCOM)‘s stock had its “overweight” rating reissued by analysts at JPMorgan Chase & Co. in a report issued on Monday. They currently have a $70.00 target price on the wireless technology company’s stock, up from their previous target price of $63.00. JPMorgan Chase & Co.’s target price points to a potential upside of 2.19% from the stock’s current price.
QCOM has been the subject of several other research reports. Vetr raised Qualcomm from a “buy” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a report on Monday, September 26th. Zacks Investment Research lowered Qualcomm from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. BMO Capital Markets reaffirmed an “underperform” rating and set a $53.00 target price on shares of Qualcomm in a report on Sunday. Standpoint Research raised Qualcomm from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Thursday, August 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $70.00 target price on shares of Qualcomm in a report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Qualcomm has a consensus rating of “Buy” and a consensus target price of $63.65.
Qualcomm (NASDAQ:QCOM) traded down 1.11% on Monday, hitting $67.74. 4,257,310 shares of the stock were exchanged. The company has a 50-day moving average price of $62.97 and a 200-day moving average price of $56.28. Qualcomm has a 52-week low of $42.24 and a 52-week high of $70.40. The firm has a market cap of $99.82 billion, a PE ratio of 19.84 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The company earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $0.99 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Qualcomm will post $4.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 31st were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, August 29th. Qualcomm’s dividend payout ratio is currently 62.17%.
In other Qualcomm news, EVP Matthew S. Grob sold 74,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $66.63, for a total transaction of $4,930,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Derek K. Aberle sold 22,653 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total value of $1,403,353.35. Following the transaction, the president now owns 69,234 shares of the company’s stock, valued at approximately $4,289,046.30. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in QCOM. Pinkerton Retirement Specialists LLC raised its stake in 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 valued at $111,000 after buying an additional 2,018 shares during the last quarter. Krilogy Financial LLC raised its stake in Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 791 shares during the last quarter. CapWealth Advisors LLC raised its stake in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock valued at $112,000 after buying an additional 600 shares during the last quarter. Joel Isaacson & Co. LLC raised its stake in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock valued at $119,000 after buying an additional 103 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in Qualcomm during the second quarter valued at about $121,000. Institutional investors and hedge funds own 78.05% of the company’s stock.
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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