QUALCOMM, Inc. (QCOM) Receives Consensus Rating of “Hold” from Analysts
QUALCOMM, Inc. (NASDAQ:QCOM) has received a consensus rating of “Hold” from the thirty-four ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nineteen have issued a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $66.76.
Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a report on Monday, November 13th. Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, BidaskClub cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th.
Shares of QUALCOMM (NASDAQ:QCOM) opened at $66.47 on Monday. QUALCOMM has a fifty-two week low of $48.92 and a fifty-two week high of $69.28. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The company has a market cap of $98,421.20, a P/E ratio of 40.28, a PEG ratio of 1.89 and a beta of 1.39.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the prior year, the company posted $1.28 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts forecast that QUALCOMM will post 3.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.43%. QUALCOMM’s payout ratio is 138.18%.
In other news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $1,868,744 over the last 90 days. Insiders own 0.24% of the company’s stock.
Several hedge funds have recently made changes to their positions in QCOM. Westwood Holdings Group Inc. bought a new stake in QUALCOMM in the 2nd quarter valued at $114,000. Krilogy Financial LLC increased its holdings in QUALCOMM by 47.0% in the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock valued at $129,000 after acquiring an additional 745 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new stake in QUALCOMM in the 2nd quarter valued at $141,000. Jacobi Capital Management LLC increased its holdings in QUALCOMM by 7.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock valued at $154,000 after acquiring an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in QUALCOMM by 40.7% in the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock valued at $160,000 after acquiring an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 76.20% of the company’s stock.
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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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