According to Zacks, “Qualcomm, undisputed leader of the global wireless baseband chipset market, is expected to gain significantly in China in the near term through signing of new patent license agreements with Chinese smartphone makers. The company is actively involved in the production of chipsets for the 5G standard and is sharing partnership with U.S. telecom behemoths like Verizon and Ericsson for the same, which may propel growth in future. Moreover, Qualcomm is widening its presence in adjacent opportunities, including automotive, networking, mobile computing, and IoT and these strategies bode well for long-term growth. However, regulatory proceedings against Qualcomm are a major headwind. Also, the company is suffering from increased competition from MediaTek and Intel and has projected a soft revenue outlook for 2016.”
QCOM has been the subject of several other reports. Vetr lowered Qualcomm from a strong-buy rating to a buy rating and set a $69.01 price objective for the company. in a research note on Monday, September 19th. Standpoint Research upgraded Qualcomm from a hold rating to a buy rating and set a $72.00 price objective for the company in a research note on Thursday, August 25th. Bank of America Corp. restated a buy rating on shares of Qualcomm in a report on Monday, July 18th. Mizuho increased their target price on Qualcomm from $56.00 to $59.00 and gave the stock a neutral rating in a report on Tuesday, September 6th. Finally, Morgan Stanley restated an overweight rating and set a $65.00 target price on shares of Qualcomm in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $62.08.
Shares of Qualcomm (NASDAQ:QCOM) opened at 62.31 on Wednesday. Qualcomm has a 12-month low of $42.24 and a 12-month high of $64.00. The firm’s 50-day moving average price is $62.52 and its 200 day moving average price is $55.95. The firm has a market cap of $91.82 billion, a P/E ratio of 18.25 and a beta of 1.22.
Qualcomm (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.19. Qualcomm had a return on equity of 17.70% and a net margin of 22.64%. The firm earned $5.60 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts expect that Qualcomm will post $4.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, August 31st were given a $0.53 dividend. The ex-dividend date was Monday, August 29th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.40%. Qualcomm’s dividend payout ratio (DPR) is presently 62.17%.
In related news, EVP James H. Thompson sold 10,000 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $60.94, for a total transaction of $609,400.00. Following the sale, the executive vice president now owns 59,497 shares in the company, valued at approximately $3,625,747.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond V. Dittamore sold 7,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $778,665. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Sterling Global Strategies LLC raised its stake in shares of Qualcomm by 0.4% in the second quarter. Sterling Global Strategies LLC now owns 3,951 shares of the wireless technology company’s stock valued at $211,000 after buying an additional 17 shares during the last quarter. Delphi Private Advisors LLC raised its stake in shares of Qualcomm by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 4,371 shares of the wireless technology company’s stock valued at $234,000 after buying an additional 19 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Qualcomm by 1.0% in the second quarter. Sunbelt Securities Inc. now owns 2,468 shares of the wireless technology company’s stock valued at $132,000 after buying an additional 24 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Qualcomm by 0.5% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,896 shares of the wireless technology company’s stock valued at $262,000 after buying an additional 25 shares during the last quarter. Finally, Greenwich Wealth Management LLC increased its position in Qualcomm by 0.4% in the second quarter. Greenwich Wealth Management LLC now owns 5,851 shares of the wireless technology company’s stock worth $313,000 after buying an additional 26 shares during the period. 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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