BMO Capital Markets reaffirmed their underperform rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a research note issued to investors on Sunday. The firm currently has a $53.00 target price on the wireless technology company’s stock.
Several other research firms have also issued reports on QCOM. KeyCorp restated a buy rating and issued a $59.00 price target on shares of Qualcomm in a research report on Wednesday, July 6th. Morgan Stanley restated a buy rating on shares of Qualcomm in a research report on Wednesday, June 15th. Vetr upgraded shares of Qualcomm from a hold rating to a buy rating and set a $58.08 price target on the stock in a research report on Monday, June 13th. Zacks Investment Research upgraded shares of Qualcomm from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Monday, July 11th. Finally, Bank of America Corp. restated a buy rating on shares of Qualcomm in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. Qualcomm presently has an average rating of Buy and a consensus target price of $63.11.
Qualcomm (NASDAQ:QCOM) traded up 1.56% on Friday, reaching $68.50. 34,879,502 shares of the company’s stock traded hands. The firm’s 50-day moving average is $62.97 and its 200 day moving average is $56.28. Qualcomm has a 52-week low of $42.24 and a 52-week high of $70.40. The stock has a market capitalization of $100.94 billion, a PE ratio of 20.06 and a beta of 1.22.
Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.19. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business posted $0.99 EPS. Qualcomm’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Qualcomm will post $4.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.53 per share. The ex-dividend date was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a yield of 3.09%. Qualcomm’s payout ratio is 62.17%.
In other Qualcomm news, EVP Matthew S. Grob sold 2,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $62.37, for a total transaction of $124,740.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 74,000 shares of the stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $66.63, for a total transaction of $4,930,620.00. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
A number of large investors have recently made changes to their positions in QCOM. Pinkerton Retirement Specialists LLC increased its stake in shares of Qualcomm by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock worth $111,000 after buying an additional 2,018 shares during the last quarter. Krilogy Financial LLC increased its stake in shares of Qualcomm by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock worth $111,000 after buying an additional 791 shares during the last quarter. CapWealth Advisors LLC boosted its position in Qualcomm by 37.8% in the first quarter. CapWealth Advisors LLC now owns 2,188 shares of the wireless technology company’s stock worth $112,000 after buying an additional 600 shares during the period. Joel Isaacson & Co. LLC boosted its position in Qualcomm by 4.9% in the second quarter. Joel Isaacson & Co. LLC now owns 2,219 shares of the wireless technology company’s stock worth $119,000 after buying an additional 103 shares during the period. Finally, Americafirst Capital Management LLC bought a new position in Qualcomm during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.
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.
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