QUALCOMM, Inc. (NASDAQ:QCOM) has earned a consensus recommendation of “Buy” from the thirty-one research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, eighteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $82.62.
QCOM has been the topic of several recent research reports. ValuEngine lowered shares of Wave Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. set a €28.20 ($32.79) price target on shares of AXA and gave the company a “buy” rating in a report on Thursday, May 2nd. Cowen lowered their price target on shares of Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Edward Jones lowered shares of QUALCOMM from a “hold” rating to a “sell” rating and set a $69.31 target price on the stock. in a research note on Thursday, May 23rd. Finally, Goldman Sachs Group raised shares of Lenovo Group from a “neutral” rating to a “buy” rating in a research note on Thursday, May 23rd. They noted that the move was a valuation call.
Shares of NASDAQ QCOM traded up $0.09 during mid-day trading on Friday, hitting $75.76. The stock had a trading volume of 19,037,367 shares, compared to its average volume of 17,489,594. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55. The stock’s 50 day moving average price is $72.14. QUALCOMM has a twelve month low of $49.10 and a twelve month high of $90.34. The stock has a market cap of $91.70 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.80 and a beta of 1.63.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.80 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. On average, equities research analysts expect that QUALCOMM will post 3.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Wednesday, June 5th. QUALCOMM’s payout ratio is currently 77.74%.
In related news, major shareholder Inc/De Qualcomm sold 848,877 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total value of $29,031,593.40. Following the transaction, the insider now directly owns 848,877 shares of the company’s stock, valued at approximately $29,031,593.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin L. Polek sold 6,118 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.26, for a total transaction of $546,092.68. The disclosure for this sale can be found here. Insiders sold a total of 936,366 shares of company stock worth $36,635,578 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of QCOM. CX Institutional raised its holdings in QUALCOMM by 71.3% in the 2nd quarter. CX Institutional now owns 733 shares of the wireless technology company’s stock valued at $56,000 after acquiring an additional 305 shares during the last quarter. Covenant Asset Management LLC raised its holdings in QUALCOMM by 6.2% in the 2nd quarter. Covenant Asset Management LLC now owns 28,333 shares of the wireless technology company’s stock valued at $2,155,000 after acquiring an additional 1,645 shares during the last quarter. Verity & Verity LLC raised its holdings in QUALCOMM by 3.4% in the 2nd quarter. Verity & Verity LLC now owns 47,664 shares of the wireless technology company’s stock valued at $3,626,000 after acquiring an additional 1,573 shares during the last quarter. Intl Fcstone Inc. acquired a new stake in QUALCOMM in the 2nd quarter valued at about $313,000. Finally, Courier Capital LLC acquired a new stake in QUALCOMM in the 2nd quarter valued at about $249,000. 76.27% of the stock is currently owned by hedge funds and other institutional investors.
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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