QUALCOMM (QCOM) Stock Rating Reaffirmed by Cowen

Cowen reissued their outperform rating on shares of QUALCOMM (NASDAQ:QCOM) in a report published on Thursday, Briefing.com Automated Import reports. The firm currently has a $80.00 price target on the wireless technology company’s stock, down from their prior price target of $100.00.

A number of other equities research analysts have also commented on the stock. Mizuho lowered shares of QUALCOMM from a buy rating to a neutral rating and lowered their price target for the company from $90.00 to $65.00 in a report on Thursday. BidaskClub lowered shares of QUALCOMM from a buy rating to a hold rating in a report on Tuesday, May 21st. Zacks Investment Research upgraded shares of QUALCOMM from a sell rating to a hold rating in a report on Monday, May 6th. Canaccord Genuity upped their price target on shares of QUALCOMM from $89.00 to $105.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Citigroup upped their price target on shares of QUALCOMM from $55.00 to $85.00 and gave the company a neutral rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of Buy and an average price target of $80.05.

NASDAQ:QCOM opened at $66.21 on Thursday. QUALCOMM has a 52 week low of $49.10 and a 52 week high of $90.34. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39. The firm has a market cap of $80.49 billion, a P/E ratio of 20.76, a PEG ratio of 1.71 and a beta of 1.45.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 EPS for the quarter, beating the Zacks’ 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 company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the business posted $0.80 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that QUALCOMM will post 3.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $2.48 annualized dividend and a yield of 3.75%. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In other news, Director Clark T. Jr. Randt sold 2,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.58, for a total value of $179,160.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the completion of the sale, the insider now directly owns 848,877 shares in the company, valued at $29,031,593.40. The disclosure for this sale can be found here. Insiders sold a total of 949,832 shares of company stock valued at $37,443,538 over the last 90 days. Company insiders own 0.11% of the company’s stock.

Several large investors have recently added to or reduced their stakes in QCOM. Lavaca Capital LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth about $25,000. Farmers National Bank purchased a new stake in QUALCOMM during the 1st quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC purchased a new stake in QUALCOMM during the 1st quarter valued at about $29,000. Field & Main Bank purchased a new stake in QUALCOMM during the 1st quarter valued at about $32,000. Finally, Baldwin Brothers Inc. MA purchased a new stake in QUALCOMM during the 1st quarter valued at about $34,000. 77.95% of the stock is currently owned by hedge funds and other institutional investors.

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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