Somewhat Favorable Press Coverage Somewhat Unlikely to Impact QUALCOMM (QCOM) Stock Price
Media stories about QUALCOMM (NASDAQ:QCOM) have been trending somewhat positive on Tuesday, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. QUALCOMM earned a coverage optimism score of 0.18 on Accern’s scale. Accern also assigned news stories about the wireless technology company an impact score of 45.7077963461801 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media headlines that may have effected Accern Sentiment’s rankings:
- Broadcom Keeps the Pressure On in Qualcomm Bid (lightreading.com)
- QUALCOMM, Inc.: Future Won’t Be That Much Better Than Recent Past, Warns Edward Snyder (smarteranalyst.com)
- Broadcom to Seek the Election of Six, Rather than 11, Nominees to the Qualcomm Board (finance.yahoo.com)
- Broadcom To Seek Election Of Six Nominees To Qualcomm Board – Quick Facts (markets.businessinsider.com)
- Qualcomm’s Approach to Addressing Rising Competition (finance.yahoo.com)
QCOM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, October 17th. Mizuho restated a “buy” rating on shares of QUALCOMM in a report on Friday, October 27th. BMO Capital Markets upped their price target on shares of QUALCOMM from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. Canaccord Genuity upped their price target on shares of QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, Sanford C. Bernstein upped their price target on shares of QUALCOMM from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $68.25.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. equities analysts expect that QUALCOMM will post 2.8 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders 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 3.47%. QUALCOMM’s dividend payout ratio is -80.57%.
In other news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $824,638.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 713 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now directly owns 10,403 shares in the company, valued at $709,484.60. The disclosure for this sale can be found here. Insiders have sold 53,346 shares of company stock worth $3,499,504 over the last ninety days. Insiders own 0.24% of the company’s stock.
WARNING: This article was originally published by Watch List News and is owned by of Watch List News. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/somewhat-favorable-press-coverage-somewhat-unlikely-to-impact-qualcomm-qcom-stock-price/1864104.html.
QUALCOMM Company Profile
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.
Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.