Morgan Stanley reaffirmed their equal weight rating on shares of QUALCOMM Incorporated (NASDAQ:QCOM) in a research report report published on Wednesday.
A number of other analysts have also recently commented on the company. Mizuho upgraded QUALCOMM from a neutral rating to a buy rating and set a $75.00 price target for the company in a research report on Thursday, September 29th. Cowen and Company restated an outperform rating and issued a $74.00 price target on shares of QUALCOMM in a research report on Monday, October 10th. Susquehanna began coverage on QUALCOMM in a research report on Tuesday, December 20th. They issued a positive rating and a $80.00 price target for the company. Nomura upgraded QUALCOMM from a neutral rating to a buy rating and upped their price target for the stock from $55.00 to $80.00 in a research report on Monday, October 31st. Finally, Vetr cut QUALCOMM from a buy rating to a hold rating and set a $71.00 target price for the company. in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $67.45.
QUALCOMM (NASDAQ:QCOM) traded down 0.50% during mid-day trading on Wednesday, reaching $53.97. The company had a trading volume of 407,196 shares. The firm has a 50-day moving average of $65.45 and a 200 day moving average of $64.32. QUALCOMM has a 1-year low of $42.24 and a 1-year high of $71.62. The company has a market capitalization of $79.72 billion, a PE ratio of 16.46 and a beta of 1.35.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. QUALCOMM had a return on equity of 20.25% and a net margin of 20.56%. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. QUALCOMM’s revenue was up 3.9% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $4.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 1st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.12 annualized dividend and a yield of 3.91%. QUALCOMM’s dividend payout ratio (DPR) is currently 64.63%.
In other QUALCOMM news, EVP Alexander H. Rogers sold 8,993 shares of the business’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $65.50, for a total transaction of $589,041.50. Following the completion of the sale, the executive vice president now directly owns 655 shares in the company, valued at approximately $42,902.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stiles Barbara Alexander sold 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $68.52, for a total value of $1,507,440.00. Following the sale, the director now owns 2,440 shares of the company’s stock, valued at $167,188.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,758 shares of company stock valued at $5,693,206. 0.24% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Hodges Capital Management Inc. bought a new stake in QUALCOMM during the fourth quarter worth about $700,000. Benson Investment Management Company Inc. bought a new stake in QUALCOMM during the fourth quarter worth about $2,121,000. Mission Wealth Management LLC raised its stake in QUALCOMM by 16.4% in the fourth quarter. Mission Wealth Management LLC now owns 3,527 shares of the wireless technology company’s stock worth $230,000 after buying an additional 497 shares during the period. Psagot Investment House Ltd. raised its stake in QUALCOMM by 128.0% in the fourth quarter. Psagot Investment House Ltd. now owns 15,503 shares of the wireless technology company’s stock worth $1,011,000 after buying an additional 8,703 shares during the period. Finally, Norway Savings Bank bought a new stake in QUALCOMM during the fourth quarter worth about $547,000. Institutional investors and hedge funds own 79.16% 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.