QUALCOMM, Inc. (QCOM) Given Average Recommendation of “Hold” by Brokerages

Shares of QUALCOMM, Inc. (NASDAQ:QCOM) have been assigned a consensus rating of “Hold” from the thirty-four research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nineteen have given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $66.76.

QCOM has been the topic of a number of research analyst reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price on the stock in a research note on Monday, November 13th. Stifel Nicolaus restated a “buy” rating on shares of QUALCOMM in a research note on Thursday, October 12th. Canaccord Genuity boosted their target price on QUALCOMM from $76.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. Citigroup boosted their target price on QUALCOMM from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Standpoint Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 6th.

In other news, EVP Alexander H. Rogers sold 874 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares of the company’s stock, valued at $824,638.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 919 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total transaction of $59,110.08. Following the completion of the transaction, the executive vice president now directly owns 11,116 shares in the company, valued at approximately $714,981.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock worth $1,868,744. Insiders own 0.24% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in QUALCOMM by 1.5% in the second quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after acquiring an additional 1,537,645 shares in the last quarter. FMR LLC grew its position in QUALCOMM by 16.5% in the second quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after acquiring an additional 11,387,347 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in QUALCOMM by 2.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after acquiring an additional 498,324 shares in the last quarter. Capital International Investors grew its position in QUALCOMM by 41.8% in the third quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after acquiring an additional 6,322,645 shares in the last quarter. Finally, Northern Trust Corp grew its position in QUALCOMM by 2.6% in the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after acquiring an additional 499,531 shares in the last quarter. 76.20% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM (QCOM) opened at $66.47 on Monday. QUALCOMM has a 12 month low of $48.92 and a 12 month high of $69.28. The firm has a market capitalization of $98,421.20, a P/E ratio of 40.28, a PEG ratio of 1.89 and a beta of 1.39. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. research analysts forecast that QUALCOMM will post 3.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $2.28 annualized dividend and a dividend yield of 3.43%. QUALCOMM’s payout ratio is currently 138.18%.

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About QUALCOMM

QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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