QUALCOMM (NASDAQ:QCOM) Given New $100.00 Price Target at Bank of America

QUALCOMM (NASDAQ:QCOM) had its price objective decreased by Bank of America from $105.00 to $100.00 in a report published on Thursday morning, BenzingaRatingsTable reports. Bank of America currently has a buy rating on the wireless technology company’s stock.

A number of other research analysts have also recently weighed in on the company. Cowen restated an outperform rating and issued a $80.00 price target (down previously from $100.00) on shares of QUALCOMM in a research report on Thursday, May 23rd. Goldman Sachs Group assumed coverage on QUALCOMM in a research report on Thursday, May 23rd. They issued a neutral rating and a $73.00 price target for the company. Barclays cut QUALCOMM from an overweight rating to an equal weight rating and dropped their price target for the company from $90.00 to $75.00 in a research report on Thursday, July 18th. Evercore ISI upgraded QUALCOMM from an in-line rating to an outperform rating in a research report on Wednesday, April 17th. Finally, Sanford C. Bernstein set a $60.00 price target on QUALCOMM and gave the company a hold rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. QUALCOMM has a consensus rating of Buy and an average price target of $79.93.

Shares of QCOM stock traded down $0.05 during mid-day trading on Thursday, reaching $71.15. The stock had a trading volume of 12,648,805 shares, compared to its average volume of 12,079,326. QUALCOMM has a 12-month low of $49.10 and a 12-month high of $90.34. The firm has a market capitalization of $86.55 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.53 and a beta of 1.62. The firm’s 50-day moving average is $74.44. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.39 and a current ratio of 1.77.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. QUALCOMM had a return on equity of 112.21% and a net margin of 13.41%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities analysts forecast that QUALCOMM will post 3.31 EPS for the current fiscal year.

The business 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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Wednesday, September 11th. QUALCOMM’s payout ratio is currently 77.74%.

In other QUALCOMM news, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 20,862 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was 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. In the last ninety days, insiders have sold 61,931 shares of company stock worth $5,334,769. Corporate insiders own 0.11% of the company’s stock.

A number of large investors have recently modified their holdings of QCOM. Weaver Consulting Group acquired a new stake in QUALCOMM in the 1st quarter worth about $25,000. Farmers National Bank acquired a new stake in QUALCOMM in the 1st quarter worth about $26,000. Meridian Wealth Management LLC acquired a new stake in QUALCOMM in the 1st quarter worth about $26,000. Ibex Wealth Advisors acquired a new stake in QUALCOMM in the 2nd quarter worth about $28,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in QUALCOMM in the 1st quarter worth about $29,000. 76.16% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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