QUALCOMM (NASDAQ:QCOM) Upgraded to “B-” by TheStreet

TheStreet upgraded shares of QUALCOMM (NASDAQ:QCOM) from a c+ rating to a b- rating in a research report released on Thursday morning, TheStreetRatingsTable reports.

QCOM has been the topic of several other reports. Argus increased their target price on QUALCOMM to $95.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Royal Bank of Canada reissued a sector perform rating and set a $79.00 target price on shares of QUALCOMM in a report on Monday, July 22nd. Citigroup increased their target price on QUALCOMM from $55.00 to $85.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. Cowen reissued an outperform rating and set a $80.00 target price (down from $100.00) on shares of QUALCOMM in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. increased their target price on QUALCOMM from $88.00 to $96.00 and gave the stock a positive rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $79.93.

NASDAQ QCOM traded down $0.05 on Thursday, reaching $71.15. The stock had a trading volume of 12,648,805 shares, compared to its average volume of 10,592,839. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55. The stock’s fifty day moving average is $74.44. QUALCOMM has a 1-year low of $49.10 and a 1-year high of $90.34. The stock has a market capitalization of $88.94 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.58 and a beta of 1.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a return on equity of 138.82% and a net margin of 13.41%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. Analysts forecast that QUALCOMM will post 3.31 EPS for the current fiscal 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 paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.49%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In other QUALCOMM news, EVP Donald J. Rosenberg sold 11,050 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.68, for a total value 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 $604,699.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alexander H. Rogers sold 20,862 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $88.43, for a total value of $1,844,826.66. The disclosure for this sale can be found here. Insiders sold 61,931 shares of company stock worth $5,334,769 over the last ninety days. 0.11% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Oakworth Capital Inc. raised its position in QUALCOMM by 5.9% in the second quarter. Oakworth Capital Inc. now owns 7,924 shares of the wireless technology company’s stock valued at $602,000 after purchasing an additional 443 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of QUALCOMM by 38.2% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 42,776 shares of the wireless technology company’s stock worth $3,254,000 after acquiring an additional 11,823 shares during the last quarter. McKinley Carter Wealth Services Inc. raised its position in shares of QUALCOMM by 6.2% during the second quarter. McKinley Carter Wealth Services Inc. now owns 8,429 shares of the wireless technology company’s stock worth $641,000 after acquiring an additional 489 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of QUALCOMM during the second quarter worth about $41,000. Finally, Mondrian Capital Management LLC bought a new position in shares of QUALCOMM during the second quarter worth about $2,282,000. Hedge funds and other institutional investors own 76.16% 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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