Vetr Inc. Upgrades QUALCOMM Incorporated (QCOM) to “Buy”
Vetr upgraded shares of QUALCOMM Incorporated (NASDAQ:QCOM) from a hold rating to a buy rating in a research report sent to investors on Monday morning. They currently have $69.52 target price on the wireless technology company’s stock.
A number of other equities analysts have also recently issued reports on QCOM. Sanford C. Bernstein restated a hold rating on shares of QUALCOMM in a report on Monday. Royal Bank Of Canada upgraded QUALCOMM from a sector perform rating to an outperform rating and boosted their price objective for the company from $55.00 to $70.00 in a report on Wednesday, November 8th. UBS AG upgraded QUALCOMM from a market perform rating to an outperform rating in a report on Wednesday, November 8th. Raymond James Financial, Inc. upgraded QUALCOMM from a market perform rating to an outperform rating and set a $75.00 price objective for the company in a report on Wednesday, November 8th. Finally, Zacks Investment Research upgraded QUALCOMM from a sell rating to a hold rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. QUALCOMM presently has an average rating of Hold and a consensus target price of $65.42.
QUALCOMM (NASDAQ QCOM) opened at $66.32 on Monday. The company has a market capitalization of $97,460.00, a P/E ratio of 17.36, a PEG ratio of 1.83 and a beta of 1.26. 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 has a 1-year low of $48.92 and a 1-year high of $70.24.
QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.80 billion. During the same quarter in the previous year, the business earned $1.28 EPS. QUALCOMM’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 year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 29th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.44%. QUALCOMM’s payout ratio is 138.18%.
In other news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $51.88, for a total value of $245,911.20. The disclosure for this sale can be found here. Insiders sold 25,837 shares of company stock worth $1,512,049 in the last 90 days. Company insiders own 0.17% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of QCOM. Bangor Savings Bank purchased a new position in QUALCOMM during the first quarter worth approximately $1,377,000. UBS Asset Management Americas Inc. boosted its position in QUALCOMM by 0.7% during the first quarter. UBS Asset Management Americas Inc. now owns 4,508,344 shares of the wireless technology company’s stock worth $258,508,000 after purchasing an additional 32,884 shares in the last quarter. Staley Capital Advisers Inc. boosted its position in QUALCOMM by 6.3% during the first quarter. Staley Capital Advisers Inc. now owns 767,666 shares of the wireless technology company’s stock worth $44,018,000 after purchasing an additional 45,693 shares in the last quarter. Bruni J V & Co. Co. boosted its position in QUALCOMM by 28.1% during the first quarter. Bruni J V & Co. Co. now owns 382,820 shares of the wireless technology company’s stock worth $21,951,000 after purchasing an additional 83,901 shares in the last quarter. Finally, RNC Capital Management LLC boosted its position in QUALCOMM by 33.8% during the first quarter. RNC Capital Management LLC now owns 625,317 shares of the wireless technology company’s stock worth $35,856,000 after purchasing an additional 158,133 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
QUALCOMM Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for QUALCOMM Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.