DZ Bank Reiterates “Sell” Rating for QUALCOMM (NASDAQ:QCOM)

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DZ Bank restated their sell rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Friday, The Fly reports.

Several other analysts have also commented on the stock. Macquarie set a $90.00 price objective on shares of QUALCOMM and gave the stock a buy rating in a report on Thursday, May 23rd. Zacks Investment Research upgraded shares of QUALCOMM from a sell rating to a hold rating in a report on Monday, May 6th. Mizuho reaffirmed a hold rating and set a $68.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed a sector perform rating and set a $79.00 target price on shares of QUALCOMM in a research note on Monday, July 22nd. Finally, Barclays downgraded shares of QUALCOMM from an overweight rating to an equal weight rating and decreased their target price for the company from $90.00 to $75.00 in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $79.93.

Shares of QCOM opened at $68.80 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. QUALCOMM has a one year low of $49.10 and a one year high of $90.34. The business has a 50-day moving average of $74.54. The stock has a market capitalization of $86.49 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.53 and a beta of 1.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same period last year, the business posted $1.01 earnings per share. QUALCOMM’s quarterly revenue was down 12.7% compared to the same quarter last year. Analysts anticipate that QUALCOMM will post 3.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is currently 77.74%.

In related news, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the sale, the senior vice president now owns 1,386 shares of the company’s stock, valued at $97,518.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Cristiano R. Amon sold 17,318 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.87, for a total transaction of $1,469,778.66. Following the sale, the president now directly owns 79,862 shares of the company’s stock, valued at approximately $6,777,887.94. The disclosure for this sale can be found here. Insiders have sold 42,547 shares of company stock valued at $3,593,934 in the last three months. 0.11% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Weaver Consulting Group bought a new stake in QUALCOMM in the 1st quarter worth approximately $25,000. Farmers National Bank bought a new stake in QUALCOMM in the 1st quarter worth approximately $26,000. Meridian Wealth Management LLC bought a new stake in QUALCOMM in the 1st quarter worth approximately $26,000. Ibex Wealth Advisors bought a new stake in QUALCOMM in the 2nd quarter worth approximately $28,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in QUALCOMM in the 1st quarter worth approximately $29,000. 76.18% of the stock is owned by institutional investors.

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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The Fly

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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