QUALCOMM (NASDAQ:QCOM) Price Target Cut to $75.00 by Analysts at Deutsche Bank

QUALCOMM (NASDAQ:QCOM) had its price target decreased by Deutsche Bank from $80.00 to $75.00 in a research report report published on Thursday morning, The Fly reports. Deutsche Bank currently has an in-line rating on the wireless technology company’s stock.

A number of other research firms have also issued reports on QCOM. BidaskClub raised shares of QUALCOMM from a hold rating to a buy rating in a research report on Thursday, July 18th. Cfra set a $80.00 price target on shares of QUALCOMM and gave the stock a buy rating in a research report on Thursday, May 23rd. DZ Bank lowered shares of QUALCOMM from a buy rating to a hold rating and reduced their price target for the stock from $98.00 to $74.00 in a research report on Thursday, May 23rd. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $88.00 to $96.00 and gave the stock a positive rating in a research report on Thursday, May 2nd. Finally, Edward Jones lowered shares of QUALCOMM from a hold rating to a sell rating and set a $69.31 price target for the company. in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of Buy and a consensus target price of $79.93.

Shares of QCOM traded down $0.05 during midday trading on Thursday, hitting $71.15. The stock had a trading volume of 10,062,101 shares, compared to its average volume of 17,104,318. QUALCOMM has a fifty-two week low of $49.10 and a fifty-two week high of $90.34. The stock’s 50-day moving average price is $74.44. The company has a market capitalization of $86.50 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 1.61 and a beta of 1.63. 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 (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, equities analysts anticipate that QUALCOMM will post 3.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s payout ratio is presently 77.74%.

In other news, EVP Alexander H. Rogers sold 20,862 shares of QUALCOMM stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $88.43, for a total value of $1,844,826.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald J. Rosenberg sold 11,050 shares of QUALCOMM stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.68, for a total transaction of $935,714.00. Following the completion of the transaction, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $604,699.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,931 shares of company stock worth $5,334,769. Insiders own 0.11% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. ACG Wealth raised its position in shares of QUALCOMM by 2.6% in the first quarter. ACG Wealth now owns 7,749 shares of the wireless technology company’s stock valued at $442,000 after purchasing an additional 197 shares during the period. Conning Inc. raised its position in shares of QUALCOMM by 5.7% in the first quarter. Conning Inc. now owns 826,550 shares of the wireless technology company’s stock valued at $47,138,000 after purchasing an additional 44,907 shares during the period. World Asset Management Inc grew its stake in shares of QUALCOMM by 18.5% in the first quarter. World Asset Management Inc now owns 91,562 shares of the wireless technology company’s stock worth $5,222,000 after acquiring an additional 14,322 shares during the last quarter. Regent Investment Management LLC grew its stake in shares of QUALCOMM by 12.5% in the first quarter. Regent Investment Management LLC now owns 4,492 shares of the wireless technology company’s stock worth $256,000 after acquiring an additional 500 shares during the last quarter. Finally, OLD Second National Bank of Aurora grew its stake in shares of QUALCOMM by 4.7% in the first quarter. OLD Second National Bank of Aurora now owns 37,027 shares of the wireless technology company’s stock worth $2,112,000 after acquiring an additional 1,661 shares during the last quarter. 76.16% of the stock is currently owned by 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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