Qualcomm Inc. (NASDAQ:QCOM)‘s stock had its “outperform” rating reiterated by equities research analysts at Cowen and Company in a research note issued to investors on Monday. They currently have a $74.00 target price on the wireless technology company’s stock. Cowen and Company’s price target suggests a potential upside of 11.97% from the company’s current price.
QCOM has been the topic of a number of other reports. BNP Paribas reaffirmed a “hold” rating and set a $54.00 price target on shares of Qualcomm in a research report on Sunday. RBC Capital Markets reaffirmed a “sector perform” rating and set a $70.00 price target (up from $59.00) on shares of Qualcomm in a research report on Monday, October 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $70.00 price target (up from $63.00) on shares of Qualcomm in a research report on Monday, October 3rd. Royal Bank Of Canada upped their price target on Qualcomm from $59.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Monday, October 3rd. Finally, Vetr downgraded Qualcomm from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Qualcomm presently has an average rating of “Buy” and a consensus price target of $64.05.
Shares of Qualcomm (NASDAQ:QCOM) opened at 66.09 on Monday. The stock has a market capitalization of $97.39 billion, a PE ratio of 19.35 and a beta of 1.25. The company’s 50-day moving average price is $63.90 and its 200 day moving average price is $57.10. Qualcomm has a one year low of $42.24 and a one year high of $70.40.
Qualcomm (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 22.64% and a return on equity of 17.70%. Qualcomm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Analysts anticipate that Qualcomm will post $4.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a $0.53 dividend. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.21%. Qualcomm’s payout ratio is 62.17%.
In other news, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matthew S. Grob sold 74,000 shares of the firm’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $66.63, for a total transaction of $4,930,620.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Qualcomm by 0.8% in the first quarter. State Street Corp now owns 60,697,939 shares of the wireless technology company’s stock valued at $3,104,087,000 after buying an additional 468,777 shares in the last quarter. FMR LLC raised its stake in shares of Qualcomm by 9.2% in the second quarter. FMR LLC now owns 56,983,582 shares of the wireless technology company’s stock valued at $3,052,610,000 after buying an additional 4,823,120 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Qualcomm by 5.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,598,005 shares of the wireless technology company’s stock valued at $1,157,005,000 after buying an additional 1,086,071 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of Qualcomm by 6.1% in the second quarter. Primecap Management Co. CA now owns 17,320,124 shares of the wireless technology company’s stock valued at $927,839,000 after buying an additional 989,199 shares in the last quarter. Finally, Orbis Allan Gray Ltd bought a new stake in shares of Qualcomm during the first quarter valued at approximately $865,645,000. Institutional investors and hedge funds 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.
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