QUALCOMM (QCOM) Stock Rating Reaffirmed by Mizuho
Mizuho reiterated their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a report published on Wednesday, Marketbeat.com reports. They currently have a $75.00 target price on the wireless technology company’s stock, up from their prior target price of $65.00.
QCOM has been the topic of several other reports. BMO Capital Markets upped their price target on QUALCOMM from $55.00 to $57.00 and gave the company a market perform rating in a research report on Thursday, November 2nd. UBS Group raised QUALCOMM from a market perform rating to an outperform rating in a research report on Wednesday, November 8th. Royal Bank of Canada upped their price target on QUALCOMM from $70.00 to $77.00 and gave the company an outperform rating in a research report on Tuesday, November 14th. Canaccord Genuity upped their price target on QUALCOMM from $76.00 to $83.00 and gave the company a buy rating in a research report on Monday, November 13th. Finally, Vetr raised QUALCOMM from a hold rating to a buy rating and set a $75.00 price target on the stock in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $67.14.
QUALCOMM (NASDAQ QCOM) traded down $0.01 during trading hours on Wednesday, reaching $68.04. The company had a trading volume of 8,860,000 shares, compared to its average volume of 7,710,000. The firm has a market capitalization of $100,290.00, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.39. QUALCOMM has a 52-week low of $48.92 and a 52-week high of $69.28. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. QUALCOMM’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. sell-side analysts anticipate that QUALCOMM will post 3.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.35%. QUALCOMM’s payout ratio is 138.18%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $68.52, for a total value of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 72,989 shares of company stock valued at $4,678,794. 0.17% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in QUALCOMM by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after acquiring an additional 1,537,645 shares in the last quarter. FMR LLC raised its holdings in QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock valued at $4,446,786,000 after acquiring an additional 11,387,347 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in QUALCOMM by 2.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock valued at $1,330,946,000 after acquiring an additional 498,324 shares in the last quarter. Capital International Investors raised its holdings in QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock valued at $1,112,250,000 after acquiring an additional 6,322,645 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in QUALCOMM by 2.6% in the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after acquiring an additional 499,531 shares in the last quarter. 76.23% of the stock is owned by hedge funds and other institutional investors.
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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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