Mizuho Reaffirms “Buy” Rating for QUALCOMM (QCOM)

QUALCOMM (NASDAQ:QCOM)‘s stock had its “buy” rating reaffirmed by Mizuho in a research note issued on Wednesday, April 17th, The Fly reports. They currently have a $82.00 price target on the wireless technology company’s stock, up from their prior price target of $62.00. Mizuho’s price objective would suggest a potential downside of 4.47% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of QUALCOMM in a research note on Wednesday, March 27th. They set a “neutral” rating and a $54.00 price objective on the stock. 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. Stifel Nicolaus upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and upped their target price for the stock from $57.00 to $100.00 in a research note on Tuesday, April 16th. Finally, Cowen reiterated an “outperform” rating and issued a $70.00 target price (down previously from $73.00) on shares of QUALCOMM in a research note on Thursday, January 31st. 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 posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The business 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 earnings per share. QUALCOMM’s quarterly revenue was down 5.9% on a year-over-year basis. On average, research analysts forecast that QUALCOMM will post 3.32 EPS for the current fiscal year.

In other news, Director Clark T. Jr. Randt sold 2,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total value of $179,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James H. Thompson sold 40,000 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $50.75, for a total transaction 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 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.

Several large investors have recently modified their holdings of the stock. Lavaca Capital LLC bought a new position in QUALCOMM during the fourth quarter valued at $25,000. Farmers National Bank bought a new position in QUALCOMM during the first quarter valued at $26,000. Mark Sheptoff Financial Planning LLC bought a new position in QUALCOMM during the first quarter valued at $29,000. Csenge Advisory Group bought a new position in QUALCOMM during the third quarter valued at $28,000. Finally, Field & Main Bank bought a new position in QUALCOMM during the first quarter valued at $32,000. Hedge funds and other institutional investors own 83.44% of the company’s stock.

About QUALCOMM

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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