Mizuho reaffirmed their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report sent to investors on Wednesday, The Fly reports. They currently have a $105.00 price target on the wireless technology company’s stock, up from their previous price target of $91.00.
QCOM has been the topic of several other reports. Zacks Investment Research raised QUALCOMM from a sell rating to a hold rating and set a $90.00 price objective on the stock in a research report on Friday, June 12th. UBS Group raised their price objective on QUALCOMM from $70.00 to $77.00 and gave the company a neutral rating in a research report on Thursday, April 30th. Raymond James lowered QUALCOMM to a sell rating in a research report on Friday, June 5th. Rosenblatt Securities started coverage on QUALCOMM in a research note on Friday, June 5th. They set a buy rating and a $105.00 target price for the company. Finally, BidaskClub downgraded QUALCOMM from a buy rating to a hold rating in a research note on Saturday, June 27th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $106.36.
NASDAQ QCOM opened at $105.61 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 4.67. The business’s 50 day moving average is $90.67 and its two-hundred day moving average is $82.54. QUALCOMM has a 12-month low of $58.00 and a 12-month high of $107.75. The stock has a market capitalization of $120.94 billion, a price-to-earnings ratio of 44.56, a PEG ratio of 1.98 and a beta of 1.34.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that QUALCOMM will post 3.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Wednesday, September 2nd. QUALCOMM’s dividend payout ratio is 91.55%.
In other QUALCOMM news, EVP Donald J. Rosenberg sold 11,038 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $87.68, for a total transaction of $967,811.84. Following the sale, the executive vice president now directly owns 3,591 shares of the company’s stock, valued at $314,858.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $102.42, for a total transaction of $401,998.50. Following the sale, the chief financial officer now directly owns 17,790 shares in the company, valued at $1,822,051.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,740 shares of company stock worth $22,024,427. Insiders own 0.12% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Flagship Harbor Advisors LLC lifted its holdings in QUALCOMM by 3.4% in the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock valued at $308,000 after buying an additional 110 shares during the period. Beacon Financial Advisory LLC raised its holdings in QUALCOMM by 1.8% in the second quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock worth $583,000 after purchasing an additional 116 shares during the period. Nadler Financial Group Inc. raised its holdings in QUALCOMM by 3.8% in the second quarter. Nadler Financial Group Inc. now owns 3,237 shares of the wireless technology company’s stock worth $295,000 after purchasing an additional 118 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of QUALCOMM by 1.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,508 shares of the wireless technology company’s stock worth $508,000 after acquiring an additional 125 shares in the last quarter. Finally, Country Club Trust Company n.a. increased its position in shares of QUALCOMM by 2.9% during the second quarter. Country Club Trust Company n.a. now owns 4,411 shares of the wireless technology company’s stock worth $393,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 74.50% of the company’s stock.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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