QUALCOMM Incorporated (NASDAQ:QCOM) was downgraded by equities research analysts at Nomura from a “buy” rating to a “neutral” rating in a note issued to investors on Monday. They presently have a $70.00 target price on the wireless technology company’s stock, down from their prior target price of $80.00. Nomura’s price objective points to a potential upside of 27.27% from the company’s current price.
QCOM has been the topic of several other reports. BMO Capital Markets restated an “underperform” rating and set a $53.00 target price on shares of QUALCOMM in a report on Sunday, October 2nd. Pacific Crest restated a “buy” rating and set a $83.00 target price on shares of QUALCOMM in a report on Thursday, November 3rd. RBC Capital Markets restated a “sector perform” rating and set a $70.00 target price on shares of QUALCOMM in a report on Friday, October 28th. J P Morgan Chase & Co lowered QUALCOMM from an “overweight” rating to a “neutral” rating and raised their target price for the company from $69.34 to $70.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. Finally, Vetr upgraded QUALCOMM from a “hold” rating to a “strong-buy” rating and set a $79.32 target price on the stock in a report on Monday, October 24th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $67.01.
QUALCOMM (NASDAQ:QCOM) opened at 55.00 on Monday. QUALCOMM has a one year low of $42.24 and a one year high of $71.62. The stock has a market cap of $81.23 billion, a P/E ratio of 14.44 and a beta of 1.35. The company has a 50-day moving average price of $66.12 and a 200-day moving average price of $64.37.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The firm earned $9.17 billion during the quarter, compared to analysts’ expectations of $5.84 billion. QUALCOMM had a return on equity of 19.31% and a net margin of 24.22%. The business’s revenue for the quarter was up 68.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. On average, analysts anticipate that QUALCOMM will post $4.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $2.12 annualized dividend and a yield of 3.85%. QUALCOMM’s dividend payout ratio (DPR) is currently 55.64%.
In related news, Director Stiles Barbara Alexander sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $68.52, for a total value of $1,507,440.00. Following the completion of the sale, the director now directly owns 2,440 shares in the company, valued at approximately $167,188.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matthew S. Grob sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $67.72, for a total transaction of $135,440.00. The disclosure for this sale can be found here. Insiders sold a total of 84,758 shares of company stock valued at $5,693,206 over the last quarter. 0.24% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Massey Quick & Co. LLC bought a new position in QUALCOMM during the fourth quarter valued at $105,000. Pinkerton Retirement Specialists LLC boosted its position in QUALCOMM by 3,479.3% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,076 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 2,018 shares in the last quarter. Krilogy Financial LLC boosted its position in QUALCOMM by 61.8% in the second quarter. Krilogy Financial LLC now owns 2,071 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 791 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in QUALCOMM by 53.2% in the third quarter. Orrstown Financial Services Inc. now owns 1,627 shares of the wireless technology company’s stock valued at $111,000 after buying an additional 565 shares in the last quarter. Finally, Edmond DE Rothschild Monaco bought a new position in QUALCOMM during the third quarter valued at $112,000. Institutional investors and hedge funds own 79.49% of the company’s stock.
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.