QUALCOMM (QCOM) PT Raised to $100.00 at Barclays

QUALCOMM (NASDAQ:QCOM) had its target price increased by Barclays from $70.00 to $100.00 in a research report sent to investors on Wednesday, April 17th, BenzingaRatingsTable reports. They currently have an overweight rating on the wireless technology company’s stock.

Several other brokerages also recently issued reports on QCOM. JPMorgan Chase & Co. initiated coverage on shares of QUALCOMM in a research note on Wednesday, March 27th. They issued a neutral rating and a $54.00 target price on the stock. Canaccord Genuity reiterated a buy rating and issued a $89.00 target price (up previously from $75.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. BidaskClub downgraded shares of QUALCOMM from a buy rating to a hold rating in a research note on Monday, January 7th. ValuEngine upgraded shares of QUALCOMM from a hold rating to a buy rating in a research note on Tuesday, April 16th. Finally, Cowen reiterated an outperform rating and issued a $91.00 target price (up previously from $70.00) on shares of QUALCOMM in a research note on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $83.09.

Shares of QCOM traded up $2.06 during trading hours on Wednesday, reaching $85.84. 15,880,945 shares of the company traded hands, compared to its average volume of 33,557,716. The firm has a market capitalization of $101.85 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.85 and a beta of 1.45. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM has a 12 month low of $49.10 and a 12 month high of $90.34.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts forecast that QUALCOMM will post 3.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.62 per share. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.89%. QUALCOMM’s dividend payout ratio is currently 77.74%.

In other news, EVP James H. Thompson sold 40,000 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total value of $2,030,000.00. Following the completion of the sale, the executive vice president now directly owns 62,301 shares of the company’s stock, valued at $3,161,775.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Clark T. Jr. Randt sold 2,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $89.58, for a total transaction of $179,160.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 977,131 shares of company stock valued at $38,389,089. 0.11% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lavaca Capital LLC bought a new position in shares of QUALCOMM during the fourth quarter worth $25,000. Farmers National Bank bought a new position in shares of QUALCOMM during the first quarter worth $26,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of QUALCOMM during the first quarter worth $29,000. Csenge Advisory Group bought a new position in shares of QUALCOMM during the third quarter worth $28,000. Finally, Field & Main Bank bought a new position in shares of QUALCOMM during the first quarter worth $32,000. 83.44% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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