Trading Report: The Qualcomm Inc. (QCOM) Upgraded to “Buy” at Vetr Inc.

The Qualcomm Inc. (QCOM) Upgraded to “Buy” at Vetr Inc.

Vetr upgraded shares of Qualcomm Inc. (NASDAQ:QCOM) from a hold rating to a buy rating in a report published on Thursday. They currently have $68.38 price target on the wireless technology company’s stock.

A number of other analysts have also weighed in on QCOM. Royal Bank Of Canada upped their target price on shares of Qualcomm from $55.00 to $59.00 and gave the stock an outperform rating in a report on Thursday, July 21st. Nomura reaffirmed a neutral rating and set a $55.00 target price on shares of Qualcomm in a report on Thursday, July 21st. Stifel Nicolaus upped their target price on shares of Qualcomm from $59.00 to $67.00 and gave the stock a buy rating in a report on Thursday, July 21st. Mizuho upped their target price on shares of Qualcomm from $50.00 to $56.00 and gave the stock a neutral rating in a report on Thursday, July 21st. Finally, Sanford C. Bernstein reaffirmed a hold rating on shares of Qualcomm in a report on Thursday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $64.12.

Shares of Qualcomm (NASDAQ:QCOM) traded up 0.70% during trading on Thursday, hitting $66.16. 1,477,149 shares of the stock were exchanged. The stock’s 50 day moving average price is $64.08 and its 200 day moving average price is $57.23. The firm has a market capitalization of $97.50 billion, a price-to-earnings ratio of 19.37 and a beta of 1.25. Qualcomm has a 52 week low of $42.24 and a 52 week high of $70.40.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 20th. The wireless technology company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.19. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.57 billion. Qualcomm had a net margin of 22.64% and a return on equity of 17.70%. Qualcomm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 EPS. On average, equities analysts predict that Qualcomm will post $4.30 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, November 28th. Qualcomm’s payout ratio is presently 62.17%.

In other news, President Derek K. Aberle sold 22,653 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $61.95, for a total transaction of $1,403,353.35. Following the sale, the president now owns 69,234 shares of the company’s stock, valued at approximately $4,289,046.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond V. Dittamore sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $61.00, for a total transaction of $427,000.00. Following the completion of the transaction, the director now directly owns 12,765 shares in the company, valued at approximately $778,665. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Several institutional investors have recently bought and sold shares of QCOM. Alexandria Capital LLC increased its position in Qualcomm by 20.8% in the first quarter. Alexandria Capital LLC now owns 28,191 shares of the wireless technology company’s stock worth $1,442,000 after buying an additional 4,859 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its position in Qualcomm by 16.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 524,496 shares of the wireless technology company’s stock worth $26,823,000 after buying an additional 72,330 shares during the last quarter. Virginia Retirement System acquired a new position in Qualcomm during the first quarter worth about $8,314,000. Badgley Phelps & Bell Inc. increased its position in Qualcomm by 5.7% in the first quarter. Badgley Phelps & Bell Inc. now owns 142,177 shares of the wireless technology company’s stock worth $7,271,000 after buying an additional 7,664 shares during the last quarter. Finally, Compton Capital Management Inc. RI increased its position in Qualcomm by 3.3% in the first quarter. Compton Capital Management Inc. RI now owns 21,932 shares of the wireless technology company’s stock worth $1,122,000 after buying an additional 700 shares during the last quarter. 78.05% of the stock is currently owned by institutional investors.

About Qualcomm

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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