QUALCOMM (NASDAQ:QCOM) Rating Lowered to Hold at BidaskClub
A number of other research analysts have also recently weighed in on QCOM. Nomura Securities assumed coverage on shares of QUALCOMM in a research note on Monday, March 9th. They issued a buy rating and a $98.00 target price on the stock. Morgan Stanley raised shares of QUALCOMM from an equal weight rating to an overweight rating and set a $102.00 price target on the stock in a research report on Tuesday, June 16th. Wells Fargo & Co began coverage on shares of QUALCOMM in a research report on Monday, May 4th. They issued an underweight rating and a $70.00 price target on the stock. Charter Equity reissued a hold rating on shares of QUALCOMM in a research report on Thursday, April 30th. Finally, Zacks Investment Research raised shares of QUALCOMM from a sell rating to a hold rating and set a $90.00 price target on the stock in a research report on Friday, June 12th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. QUALCOMM currently has an average rating of Hold and a consensus target price of $92.23.
QCOM opened at $88.02 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. The stock has a market cap of $99.02 billion, a price-to-earnings ratio of 33.22, a PEG ratio of 1.63 and a beta of 1.35. QUALCOMM has a twelve month low of $58.00 and a twelve month high of $96.17. The company’s 50-day moving average price is $83.30 and its two-hundred day moving average price is $81.85.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, June 3rd. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s dividend payout ratio is 91.55%.
In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $27,000. RMR Wealth Builders purchased a new position in QUALCOMM in the 4th quarter worth approximately $34,000. PSI Advisors LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $38,000. Harwood Advisory Group LLC purchased a new position in QUALCOMM in the 1st quarter worth approximately $32,000. Finally, Advisory Alpha LLC boosted its stake in shares of QUALCOMM by 493.9% in the 1st quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 405 shares in the last quarter. 74.56% of the stock is owned by institutional investors and hedge funds.
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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