QUALCOMM (QCOM) Now Covered by Goldman Sachs Group

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Goldman Sachs Group assumed coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research note issued to investors on Thursday morning, Benzinga reports. The firm issued a neutral rating and a $73.00 target price on the wireless technology company’s stock.

QCOM has been the topic of a number of other research reports. BidaskClub downgraded QUALCOMM from a buy rating to a hold rating in a research note on Tuesday, May 21st. Raymond James set a $65.00 target price on QUALCOMM and gave the stock a buy rating in a research note on Saturday, February 2nd. BMO Capital Markets restated a market perform rating on shares of QUALCOMM in a research note on Thursday, January 31st. Mizuho restated a buy rating and issued a $82.00 target price (up previously from $62.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. Finally, Barclays boosted their target price on QUALCOMM from $70.00 to $100.00 and gave the stock an overweight rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $80.05.

Shares of NASDAQ QCOM opened at $66.21 on Thursday. QUALCOMM has a twelve month low of $49.10 and a twelve month high of $90.34. The company has a market capitalization of $80.49 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.45. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The company’s revenue was down 5.9% compared to the same quarter last year. On average, analysts forecast that QUALCOMM will post 3.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 annualized dividend and a yield of 3.75%. QUALCOMM’s payout ratio is 77.74%.

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 848,877 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the sale, the insider now owns 848,877 shares in the company, valued at $29,031,593.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Erin L. Polek sold 6,118 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.26, for a total value of $546,092.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,832 shares of company stock worth $37,443,538. 0.11% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the business. HL Financial Services LLC increased its holdings in shares of QUALCOMM by 0.6% in the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after purchasing an additional 128 shares during the period. Advantage Investment Management LLC increased its holdings in shares of QUALCOMM by 3.9% in the first quarter. Advantage Investment Management LLC now owns 3,492 shares of the wireless technology company’s stock worth $199,000 after purchasing an additional 132 shares during the period. Harrington Investments INC increased its holdings in shares of QUALCOMM by 1.1% in the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock worth $784,000 after purchasing an additional 150 shares during the period. Evolution Wealth Advisors LLC increased its holdings in shares of QUALCOMM by 4.6% in the first quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock worth $201,000 after purchasing an additional 154 shares during the period. Finally, Atlas Brown Inc. increased its holdings in shares of QUALCOMM by 3.5% in the first quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock worth $303,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 77.95% of the company’s stock.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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