Trading Report: The BNP Paribas Reaffirms Hold Rating for Qualcomm Inc. (QCOM)

The BNP Paribas Reaffirms Hold Rating for Qualcomm Inc. (QCOM)

Qualcomm Inc. (NASDAQ:QCOM)‘s stock had its “hold” rating reiterated by equities researchers at BNP Paribas in a research report issued to clients and investors on Sunday. They presently have a $54.00 price target on the wireless technology company’s stock. BNP Paribas’ target price would indicate a potential downside of 20.81% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Vetr raised Qualcomm from a “buy” rating to a “strong-buy” rating and set a $69.01 target price for the company in a research report on Monday, September 12th. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 target price on shares of Qualcomm in a research report on Monday, August 15th. Zacks Investment Research raised Qualcomm from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, July 26th. Mizuho raised Qualcomm from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Thursday, September 29th. Finally, TheStreet downgraded Qualcomm from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $64.05.

Qualcomm (NASDAQ:QCOM) opened at 68.19 on Friday. Qualcomm has a 12-month low of $42.24 and a 12-month high of $70.40. The company’s 50-day moving average is $63.68 and its 200 day moving average is $56.84. The stock has a market capitalization of $100.49 billion, a PE ratio of 19.97 and a beta of 1.25.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Wednesday, November 30th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $2.12 annualized dividend and a dividend yield of 3.11%. Qualcomm’s dividend payout ratio is currently 62.17%.

In other news, President Derek K. Aberle sold 22,653 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $61.95, for a total value of $1,403,353.35. Following the sale, the president now directly owns 69,234 shares in the company, valued at $4,289,046.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew S. Grob sold 2,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $62.37, for a total value of $124,740.00. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of QCOM. Sterling Global Strategies LLC increased its position in 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 period. Delphi Private Advisors LLC increased its position in 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 period. Sunbelt Securities Inc. increased its position in 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 period. Pinnacle Wealth Management Advisory Group LLC increased its position in 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 period. 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 valued at $313,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 78.05% of the company’s stock.

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