QUALCOMM Incorporated (QCOM) Price Target Cut to $53.00 by Analysts at UBS AG
QUALCOMM Incorporated (NASDAQ:QCOM) had its target price trimmed by UBS AG from $58.00 to $53.00 in a report released on Monday morning. The brokerage currently has a buy rating on the wireless technology company’s stock.
QCOM has been the topic of several other research reports. J P Morgan Chase & Co reaffirmed an overweight rating on shares of QUALCOMM in a report on Wednesday, September 6th. BidaskClub raised QUALCOMM from a strong sell rating to a sell rating in a report on Sunday, July 16th. BMO Capital Markets reaffirmed a market perform rating and set a $55.00 price objective on shares of QUALCOMM in a report on Thursday, August 24th. Mizuho reaffirmed a buy rating on shares of QUALCOMM in a report on Friday, October 27th. Finally, Wells Fargo & Company downgraded QUALCOMM from an outperform rating to a market perform rating in a report on Monday. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $63.61.
QUALCOMM (QCOM) traded up $1.58 during trading hours on Monday, reaching $64.10. The company’s stock had a trading volume of 23,339,972 shares, compared to its average volume of 12,610,000. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The firm has a market cap of $94,130.00, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.00 and a beta of 1.26.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. analysts forecast that QUALCOMM will post 3.3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.56%. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,837 shares of company stock valued at $303,249 over the last quarter. 0.24% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Thompson Investment Management Inc. lifted its stake in QUALCOMM by 4.7% in the 3rd quarter. Thompson Investment Management Inc. now owns 149,529 shares of the wireless technology company’s stock valued at $7,752,000 after purchasing an additional 6,709 shares during the last quarter. Commerce Bank lifted its position in QUALCOMM by 22.1% during the third quarter. Commerce Bank now owns 66,687 shares of the wireless technology company’s stock worth $3,457,000 after acquiring an additional 12,073 shares during the last quarter. Quantbot Technologies LP acquired a new stake in QUALCOMM during the third quarter worth approximately $3,159,000. Cambridge Investment Research Advisors Inc. lifted its position in QUALCOMM by 7.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 94,520 shares of the wireless technology company’s stock worth $4,900,000 after acquiring an additional 6,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in QUALCOMM by 0.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,403,636 shares of the wireless technology company’s stock worth $228,284,000 after acquiring an additional 29,385 shares during the last quarter. Institutional investors and hedge funds 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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