QUALCOMM Incorporated (QCOM) Raised to “Outperform” at UBS AG
UBS AG upgraded shares of QUALCOMM Incorporated (NASDAQ:QCOM) from a market perform rating to an outperform rating in a research note released on Wednesday, The Fly reports.
A number of other equities analysts have also recently issued reports on QCOM. Stifel Nicolaus restated a buy rating and issued a $65.00 target price on shares of QUALCOMM in a report on Thursday, July 13th. BidaskClub upgraded QUALCOMM from a strong sell rating to a sell rating in a report on Sunday, July 16th. Morgan Stanley lifted their target price on QUALCOMM from $55.00 to $60.00 and gave the stock an equal weight rating in a report on Tuesday, July 18th. Sanford C. Bernstein restated a hold rating on shares of QUALCOMM in a report on Wednesday, July 19th. Finally, BMO Capital Markets lifted their target price on QUALCOMM from $54.00 to $55.00 and gave the stock a market perform rating in a report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the company’s stock. QUALCOMM has a consensus rating of Hold and a consensus price target of $64.62.
Shares of QUALCOMM (NASDAQ:QCOM) traded down $0.03 during mid-day trading on Wednesday, hitting $64.57. The stock had a trading volume of 9,626,200 shares, compared to its average volume of 11,210,729. QUALCOMM has a one year low of $48.92 and a one year high of $70.24. The firm has a market cap of $95,231.06, a PE ratio of 17.09, a PEG ratio of 1.81 and a beta of 1.26. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. sell-side analysts predict that QUALCOMM will post 3.07 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 28th. This represents a $2.28 annualized dividend and a yield of 3.53%. QUALCOMM’s dividend payout ratio is 138.18%.
In related news, EVP Michelle M. Sterling sold 4,740 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $60.44, for a total value of $1,208,800.00. The disclosure for this sale can be found here. Insiders have sold 25,837 shares of company stock worth $1,512,049 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Ronald Blue & Co. LLC grew its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock valued at $208,000 after purchasing an additional 18 shares during the period. Hollencrest Securities LLC grew its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock valued at $241,000 after purchasing an additional 40 shares during the period. North Star Investment Management Corp. grew its stake in shares of QUALCOMM by 0.4% in the 2nd quarter. North Star Investment Management Corp. now owns 9,459 shares of the wireless technology company’s stock valued at $522,000 after purchasing an additional 42 shares during the period. FCA Corp TX grew its stake in shares of QUALCOMM by 0.9% in the 1st quarter. FCA Corp TX now owns 4,817 shares of the wireless technology company’s stock valued at $276,000 after purchasing an additional 43 shares during the period. Finally, Farmers Trust Co. grew its stake in shares of QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock valued at $288,000 after purchasing an additional 48 shares during the period. 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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