Evercore ISI Reaffirms “In-Line” Rating for QUALCOMM (NASDAQ:QCOM)


Share on StockTwits

Evercore ISI reaffirmed their in-line rating on shares of QUALCOMM (NASDAQ:QCOM) in a research note published on Monday morning, Benzinga reports. They currently have a $150.00 price target on the wireless technology company’s stock, down from their previous price target of $195.00.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley cut their price objective on QUALCOMM from $171.00 to $167.00 and set an overweight rating for the company in a research report on Thursday, February 4th. Piper Sandler upgraded shares of QUALCOMM from a neutral rating to an overweight rating and raised their target price for the stock from $150.00 to $160.00 in a report on Wednesday, March 10th. Citigroup lowered shares of QUALCOMM from a buy rating to a neutral rating and set a $165.00 price target on the stock. in a report on Thursday, February 4th. Robert W. Baird initiated coverage on shares of QUALCOMM in a research note on Tuesday, December 22nd. They issued an outperform rating and a $200.00 price objective for the company. Finally, Mizuho upped their price target on QUALCOMM from $163.00 to $170.00 and gave the company a buy rating in a research report on Thursday, February 4th. Thirteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $162.77.

NASDAQ:QCOM opened at $132.97 on Monday. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. The business’s 50-day moving average price is $133.69 and its 200 day moving average price is $141.91. QUALCOMM has a 52-week low of $73.66 and a 52-week high of $167.94. The firm has a market cap of $151.05 billion, a P/E ratio of 29.35, a PEG ratio of 1.27 and a beta of 1.34.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.07. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 62.2% compared to the same quarter last year. Sell-side analysts expect that QUALCOMM will post 6.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 3rd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, June 2nd. This is a boost from QUALCOMM’s previous quarterly dividend of $0.65. QUALCOMM’s dividend payout ratio is presently 77.84%.

Several institutional investors have recently added to or reduced their stakes in the stock. Hallmark Capital Management Inc. lifted its position in QUALCOMM by 7.7% during the 1st quarter. Hallmark Capital Management Inc. now owns 28,409 shares of the wireless technology company’s stock worth $3,767,000 after buying an additional 2,028 shares in the last quarter. Roman Butler Fullerton & Co. raised its stake in shares of QUALCOMM by 9.7% in the first quarter. Roman Butler Fullerton & Co. now owns 1,599 shares of the wireless technology company’s stock worth $220,000 after acquiring an additional 141 shares during the last quarter. Sawyer & Company Inc lifted its position in shares of QUALCOMM by 10.4% during the first quarter. Sawyer & Company Inc now owns 13,860 shares of the wireless technology company’s stock worth $1,838,000 after purchasing an additional 1,300 shares in the last quarter. Boenning & Scattergood Inc. grew its stake in shares of QUALCOMM by 10.1% during the first quarter. Boenning & Scattergood Inc. now owns 2,726 shares of the wireless technology company’s stock valued at $361,000 after purchasing an additional 249 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in shares of QUALCOMM by 7.4% in the first quarter. Rockland Trust Co. now owns 4,862 shares of the wireless technology company’s stock valued at $645,000 after purchasing an additional 333 shares in the last quarter. 74.76% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

Read More: What is a good rate of return for a mutual fund?

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.