QUALCOMM (QCOM) Price Target Raised to $86.00

QUALCOMM (NASDAQ:QCOM) had its target price raised by Canaccord Genuity from $83.00 to $86.00 in a research report report published on Wednesday, Marketbeat reports. Canaccord Genuity currently has a buy rating on the wireless technology company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Macquarie lifted their price target on QUALCOMM from $55.00 to $70.00 and gave the company a neutral rating in a report on Wednesday. Mizuho reaffirmed a buy rating and set a $75.00 price target (up previously from $65.00) on shares of QUALCOMM in a report on Wednesday. ValuEngine cut QUALCOMM from a buy rating to a hold rating in a report on Tuesday, January 16th. Nomura raised QUALCOMM from a neutral rating to a buy rating and lifted their price target for the company from $58.00 to $75.00 in a report on Tuesday, January 16th. Finally, Vetr raised QUALCOMM from a buy rating to a strong-buy rating and set a $76.13 price target on the stock in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. QUALCOMM has an average rating of Hold and an average target price of $67.14.

Shares of QUALCOMM (NASDAQ QCOM) traded down $0.01 during midday trading on Wednesday, reaching $68.04. 8,668,612 shares of the company’s stock were exchanged, compared to its average volume of 7,680,000. The company has a market capitalization of $100,300.00, a PE ratio of 41.24, a P/E/G ratio of 1.93 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM has a 1 year low of $48.92 and a 1 year high of $69.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. research analysts anticipate that QUALCOMM will post 3.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.35%. QUALCOMM’s dividend payout ratio is presently 138.18%.

In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of QUALCOMM stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the completion of the transaction, the executive vice president now owns 43,000 shares in the company, valued at approximately $2,810,050. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,989 shares of company stock worth $4,678,794. 0.17% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Ronald Blue & Co. LLC grew its position in QUALCOMM by 0.5% in the second quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after buying an additional 18 shares during the last quarter. Hollencrest Securities LLC boosted its stake in QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after purchasing an additional 40 shares during the period. FCA Corp TX boosted its stake in QUALCOMM by 1.0% in the 2nd quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock worth $269,000 after purchasing an additional 49 shares during the period. Meridian Investment Counsel Inc. boosted its stake in QUALCOMM by 0.3% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock worth $1,010,000 after purchasing an additional 50 shares during the period. Finally, Valueworks LLC boosted its stake in QUALCOMM by 0.3% in the 2nd quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock worth $827,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 76.23% of the company’s stock.

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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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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