QUALCOMM (QCOM) Raised to Buy at Nomura
Nomura upgraded shares of QUALCOMM (NASDAQ:QCOM) from a neutral rating to a buy rating in a research note published on Tuesday, Marketbeat.com reports. The firm currently has $75.00 price target on the wireless technology company’s stock, up from their previous price target of $58.00.
Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein reiterated a hold rating on shares of QUALCOMM in a report on Monday, November 13th. Vetr upgraded shares of QUALCOMM from a hold rating to a buy rating and set a $69.52 price target for the company in a report on Monday, November 13th. Stifel Nicolaus downgraded shares of QUALCOMM from a buy rating to a hold rating and increased their price target for the company from $65.00 to $75.00 in a report on Tuesday, November 28th. ValuEngine upgraded shares of QUALCOMM from a hold rating to a buy rating in a report on Friday, December 1st. Finally, BidaskClub downgraded shares of QUALCOMM from a buy rating to a hold rating in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of Hold and an average price target of $67.14.
Shares of QUALCOMM (NASDAQ QCOM) traded down $0.01 during trading on Tuesday, reaching $68.04. 8,863,162 shares of the company’s stock were exchanged, compared to its average volume of 7,710,000. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00. The stock has a market cap of $100,300.00, a P/E ratio of 41.24, a P/E/G ratio of 1.93 and a beta of 1.39. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $69.28.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 3.35%. QUALCOMM’s dividend payout ratio (DPR) is currently 138.18%.
In other QUALCOMM news, EVP Michelle M. Sterling sold 7,840 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the sale, the executive vice president now directly owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 72,989 shares of company stock valued at $4,678,794 over the last 90 days. 0.17% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of QUALCOMM by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock worth $5,714,418,000 after purchasing an additional 1,537,645 shares during the last quarter. FMR LLC boosted its stake in shares of QUALCOMM by 16.5% during the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of QUALCOMM by 2.0% during the 3rd 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 purchasing an additional 498,324 shares during the last quarter. Capital International Investors boosted its stake in shares of QUALCOMM by 41.8% during the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after purchasing an additional 6,322,645 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of QUALCOMM by 2.6% during the 2nd quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock worth $1,077,848,000 after purchasing an additional 499,531 shares during the last quarter. 76.23% of the stock is currently owned by institutional investors.
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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.
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