QUALCOMM Incorporated (NASDAQ:QCOM) had its target price boosted by Citigroup Inc. from $55.00 to $57.00 in a research report sent to investors on Friday morning. The brokerage currently has a neutral rating on the wireless technology company’s stock.
A number of other equities research analysts have also issued reports on QCOM. BMO Capital Markets increased their price objective on shares of QUALCOMM from $55.00 to $57.00 and gave the company a market perform rating in a report on Thursday. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $50.00 to $55.00 and gave the company a market perform rating in a report on Thursday. Zacks Investment Research raised shares of QUALCOMM from a sell rating to a hold rating in a report on Tuesday, August 8th. Wells Fargo & Company reaffirmed an outperform rating on shares of QUALCOMM in a report on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $65.00 price objective on shares of QUALCOMM in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $63.81.
QUALCOMM (NASDAQ QCOM) traded up $1.40 on Friday, reaching $63.21. 19,477,998 shares of the company’s stock traded hands, compared to its average volume of 13,364,955. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $70.24. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $91,118.14, a PE ratio of 16.35, a P/E/G ratio of 2.00 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 EPS. research analysts forecast that QUALCOMM will post 3.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, November 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 138.18%.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total value of $245,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 5,837 shares of company stock worth $303,249 over the last ninety days. 0.24% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 1.5% in the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after purchasing an additional 1,537,645 shares in the last quarter. FMR LLC increased its holdings in shares of QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after purchasing an additional 11,387,347 shares in the last quarter. Northern Trust Corp grew its holdings in QUALCOMM by 2.6% during the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after acquiring an additional 499,531 shares during the period. Capital International Investors grew its holdings in QUALCOMM by 59.9% during the 2nd quarter. Capital International Investors now owns 15,132,794 shares of the wireless technology company’s stock worth $835,633,000 after acquiring an additional 5,671,176 shares during the period. Finally, Veritas Asset Management LLP boosted its position in shares of QUALCOMM by 68.4% during the third quarter. Veritas Asset Management LLP now owns 13,429,265 shares of the wireless technology company’s stock worth $696,173,000 after purchasing an additional 5,453,631 shares in the last quarter. Institutional investors own 76.85% of the company’s stock.
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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