Nomura upgraded shares of QUALCOMM (NASDAQ:QCOM) from a neutral rating to a buy rating in a research note published on Tuesday morning. The firm currently has $75.00 price objective on the wireless technology company’s stock, up from their prior price objective of $58.00.
Other equities research analysts also recently issued reports about the company. Canaccord Genuity increased their price target on QUALCOMM from $70.00 to $76.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Mizuho reiterated a buy rating on shares of QUALCOMM in a report on Friday, October 27th. Zacks Investment Research upgraded QUALCOMM from a hold rating to a buy rating and set a $59.00 price target on the stock in a report on Tuesday, October 17th. Stifel Nicolaus reiterated a buy rating on shares of QUALCOMM in a report on Thursday, October 12th. Finally, UBS Group reduced their price target on QUALCOMM from $58.00 to $53.00 and set a buy rating on the stock in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $67.14.
Shares of QUALCOMM (QCOM) traded down $0.23 during mid-day trading on Tuesday, reaching $68.02. The company’s stock had a trading volume of 12,560,000 shares, compared to its average volume of 8,170,000. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. QUALCOMM has a fifty-two week low of $48.92 and a fifty-two week high of $69.28. The stock has a market capitalization of $100,270.00, a P/E ratio of 41.22, a PEG ratio of 1.85 and a beta of 1.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.35%. QUALCOMM’s payout ratio is 138.18%.
In other news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now directly owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. Insiders sold a total of 72,989 shares of company stock valued at $4,678,794 in the last three months. Insiders own 0.24% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Ronald Blue & Co. LLC raised its stake in QUALCOMM by 0.5% in the 2nd quarter. Ronald Blue & Co. LLC now owns 3,760 shares of the wireless technology company’s stock worth $208,000 after acquiring an additional 18 shares during the last quarter. Hollencrest Securities LLC raised its stake in QUALCOMM by 0.9% in the 2nd quarter. Hollencrest Securities LLC now owns 4,356 shares of the wireless technology company’s stock worth $241,000 after acquiring an additional 40 shares during the last quarter. Farmers Trust Co. raised its stake in QUALCOMM by 0.9% in the 2nd quarter. Farmers Trust Co. now owns 5,214 shares of the wireless technology company’s stock worth $288,000 after acquiring an additional 48 shares during the last quarter. FCA Corp TX raised its stake in QUALCOMM by 1.0% in the 2nd quarter. FCA Corp TX now owns 4,866 shares of the wireless technology company’s stock worth $269,000 after acquiring an additional 49 shares during the last quarter. Finally, Meridian Investment Counsel Inc. raised its stake in QUALCOMM by 0.3% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock worth $1,010,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 76.23% of the company’s stock.
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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.
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