QUALCOMM’s (QCOM) Buy Rating Reiterated at Mizuho
Mizuho reiterated their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have a $75.00 price target on the wireless technology company’s stock, up from their previous price target of $65.00.
Other research analysts also recently issued research reports about the stock. Canaccord Genuity upped their price objective on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a hold rating to a buy rating and set a $59.00 price objective on the stock in a report on Tuesday, October 17th. Stifel Nicolaus restated a buy rating on shares of QUALCOMM in a report on Thursday, October 12th. UBS Group lowered their price objective on shares of QUALCOMM from $58.00 to $53.00 and set a buy rating on the stock in a report on Monday, November 6th. Finally, Vetr upgraded shares of QUALCOMM from a hold rating to a buy rating and set a $69.52 price objective on the stock in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned 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 target price of $67.14.
QUALCOMM (NASDAQ:QCOM) traded down $0.01 during trading on Wednesday, hitting $68.04. 8,668,612 shares of the company were exchanged, compared to its average volume of 7,680,000. 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 52 week low of $48.92 and a 52 week high of $69.28. The firm has a market cap of $100,300.00, a P/E ratio of 41.24, a PEG ratio of 1.93 and a beta of 1.39.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, February 28th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $2.28 annualized dividend and a dividend yield of 3.35%. QUALCOMM’s payout ratio is 138.18%.
In related news, EVP Alexander H. Rogers sold 874 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the completion of the transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total transaction of $2,810,050.00. Following the transaction, the executive vice president now owns 43,000 shares of the company’s stock, valued at approximately $2,810,050. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,989 shares of company stock valued at $4,678,794. Company insiders own 0.17% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of QCOM. Perkins Coie Trust Co grew its position in QUALCOMM by 4.2% during the second quarter. Perkins Coie Trust Co now owns 36,002 shares of the wireless technology company’s stock valued at $1,988,000 after buying an additional 1,460 shares during the period. City Holding Co. grew its position in QUALCOMM by 36.9% during the second quarter. City Holding Co. now owns 23,400 shares of the wireless technology company’s stock valued at $1,292,000 after buying an additional 6,310 shares during the period. Koshinski Asset Management Inc. lifted its holdings in QUALCOMM by 55.6% during the second quarter. Koshinski Asset Management Inc. now owns 13,390 shares of the wireless technology company’s stock valued at $739,000 after purchasing an additional 4,787 shares during the last quarter. Dynamic Advisors Solutions LLC lifted its holdings in QUALCOMM by 323.3% during the second quarter. Dynamic Advisors Solutions LLC now owns 46,103 shares of the wireless technology company’s stock valued at $2,546,000 after purchasing an additional 35,211 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in QUALCOMM during the second quarter valued at about $28,370,000. Institutional investors own 76.23% of the company’s stock.
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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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