Cowen reissued their outperform rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report released on Thursday morning, The Fly reports. The brokerage currently has a $100.00 price target on the wireless technology company’s stock, up from their prior price target of $80.00.
Other analysts have also recently issued research reports about the stock. Barclays cut shares of QUALCOMM from an overweight rating to an equal weight rating and reduced their target price for the stock from $90.00 to $75.00 in a research note on Thursday, July 18th. Royal Bank of Canada restated a sector perform rating and issued a $79.00 target price on shares of QUALCOMM in a research note on Monday, July 22nd. DZ Bank restated a sell rating on shares of QUALCOMM in a research note on Friday, August 2nd. Rosenblatt Securities restated a buy rating and issued a $95.00 target price on shares of QUALCOMM in a research note on Thursday. Finally, Deutsche Bank reduced their target price on shares of QUALCOMM from $80.00 to $75.00 and set an in-line rating for the company in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of Buy and an average target price of $85.18.
Shares of NASDAQ:QCOM traded up $4.05 during trading hours on Thursday, reaching $94.03. The stock had a trading volume of 16,371,200 shares, compared to its average volume of 14,163,117. The stock has a market capitalization of $103.89 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 2.03 and a beta of 1.59. The firm’s 50 day moving average is $78.92 and its 200-day moving average is $76.48. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.61 and a current ratio of 1.77. QUALCOMM has a 1 year low of $49.10 and a 1 year high of $94.11.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.07. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.71 billion. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. QUALCOMM’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Analysts forecast that QUALCOMM will post 3.29 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.64%. QUALCOMM’s dividend payout ratio is presently 87.32%.
In other news, EVP Michelle M. Sterling sold 10,398 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total value of $779,953.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark D. Mclaughlin purchased 2,705 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was bought at an average price of $73.84 per share, with a total value of $199,737.20. Following the acquisition, the director now directly owns 5,220 shares in the company, valued at $385,444.80. The disclosure for this purchase can be found here. Insiders sold a total of 19,118 shares of company stock valued at $1,477,392 in the last quarter. Insiders own 0.11% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Ibex Wealth Advisors purchased a new position in QUALCOMM during the 2nd quarter valued at about $28,000. Krane Funds Advisors LLC purchased a new position in QUALCOMM during the 2nd quarter valued at about $28,000. Hexavest Inc. purchased a new position in QUALCOMM during the 2nd quarter valued at about $33,000. Lenox Wealth Advisors LLC purchased a new position in QUALCOMM during the 2nd quarter valued at about $34,000. Finally, Mechanics Bank Trust Department purchased a new position in QUALCOMM during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 78.30% of the company’s stock.
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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