QUALCOMM (NASDAQ:QCOM) Raised to Buy at BidaskClub

BidaskClub upgraded shares of QUALCOMM (NASDAQ:QCOM) from a hold rating to a buy rating in a report published on Thursday, BidAskClub reports.

Several other research analysts have also weighed in on the stock. Cfra set a $80.00 price objective on shares of QUALCOMM and gave the stock a buy rating in a report on Thursday, May 23rd. Morgan Stanley set a $40.00 price objective on shares of Halliburton and gave the stock a buy rating in a report on Tuesday, April 23rd. Argus raised their price objective on shares of QUALCOMM to $95.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Stifel Nicolaus raised their price objective on shares of Wayfair from $132.00 to $150.00 and gave the stock a hold rating in a report on Thursday, May 2nd. Finally, Barclays reissued a hold rating and set a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. QUALCOMM currently has an average rating of Buy and an average price target of $79.23.

QUALCOMM stock opened at $75.00 on Thursday. QUALCOMM has a 12-month low of $49.10 and a 12-month high of $90.34. The stock has a market cap of $91.18 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 1.78 and a beta of 1.63. 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 business’s fifty day moving average price is $72.70.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts predict that QUALCOMM will post 3.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Wednesday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In other news, EVP Michelle M. Sterling sold 5,560 shares of QUALCOMM stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 848,877 shares of QUALCOMM stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the completion of the transaction, the insider now directly owns 848,877 shares of the company’s stock, valued at $29,031,593.40. The disclosure for this sale can be found here. Insiders sold a total of 936,366 shares of company stock valued at $36,635,578 over the last ninety days. Company insiders own 0.11% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Weaver Consulting Group acquired a new position in QUALCOMM during the 1st quarter valued at about $25,000. Farmers National Bank acquired a new position in QUALCOMM during the 1st quarter valued at about $26,000. Meridian Wealth Management LLC acquired a new position in QUALCOMM during the 1st quarter valued at about $26,000. Mark Sheptoff Financial Planning LLC acquired a new position in QUALCOMM during the 1st quarter valued at about $29,000. Finally, Field & Main Bank acquired a new position in QUALCOMM during the 1st quarter valued at about $32,000. 76.27% of the stock is owned by institutional investors and hedge funds.

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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