BNP Paribas reaffirmed their hold rating on shares of Qualcomm Inc. (NASDAQ:QCOM) in a report released on Sunday. BNP Paribas currently has a $54.00 price target on the wireless technology company’s stock.
Several other research firms have also recently weighed in on QCOM. Standpoint Research cut Qualcomm from a buy rating to a hold rating in a research report on Monday, July 25th. RBC Capital Markets reiterated a sector perform rating and set a $70.00 target price (up previously from $59.00) on shares of Qualcomm in a report on Monday, October 3rd. Bank of America Corp. reiterated a buy rating on shares of Qualcomm in a report on Monday, July 18th. Vetr upgraded Qualcomm from a buy rating to a strong-buy rating and set a $69.01 target price on the stock in a report on Monday, September 12th. Finally, Morgan Stanley reiterated a buy rating on shares of Qualcomm in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $64.05.
Shares of Qualcomm (NASDAQ:QCOM) opened at 68.19 on Friday. Qualcomm has a one year low of $42.24 and a one year high of $70.40. The stock’s 50 day moving average price is $63.68 and its 200 day moving average price is $56.84. The firm has a market cap of $100.49 billion, a price-to-earnings ratio of 19.97 and a beta of 1.25.
Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.19. The company earned $5.60 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. Qualcomm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, equities analysts anticipate that Qualcomm will post $4.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Wednesday, November 30th will be issued a $0.53 dividend. The ex-dividend date is Monday, November 28th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.11%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
In related news, Director Raymond V. Dittamore sold 7,000 shares of Qualcomm stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $61.00, for a total value of $427,000.00. Following the sale, the director now owns 12,765 shares of the company’s stock, valued at approximately $778,665. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of Qualcomm stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $68.18, for a total transaction of $136,360.00. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. First Republic Investment Management Inc. boosted its stake in Qualcomm by 3.4% in the first quarter. First Republic Investment Management Inc. now owns 844,615 shares of the wireless technology company’s stock worth $43,194,000 after buying an additional 27,934 shares during the period. Conning Inc. boosted its stake in Qualcomm by 4.2% in the second quarter. Conning Inc. now owns 475,737 shares of the wireless technology company’s stock worth $25,485,000 after buying an additional 19,357 shares during the period. Orbis Allan Gray Ltd bought a new stake in Qualcomm during the first quarter worth approximately $865,645,000. Legal & General Group Plc boosted its stake in Qualcomm by 2.4% in the first quarter. Legal & General Group Plc now owns 7,071,165 shares of the wireless technology company’s stock worth $361,632,000 after buying an additional 166,659 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Qualcomm by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 816,491 shares of the wireless technology company’s stock worth $41,755,000 after buying an additional 95,268 shares during the period. 78.05% of the stock is currently owned by institutional investors.
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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