BidaskClub lowered shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a hold rating in a report released on Saturday, BidAskClub reports.

QCOM has been the topic of several other research reports. Bank of America lifted their target price on shares of QUALCOMM from $100.00 to $115.00 and gave the company a buy rating in a report on Wednesday, June 24th. Citigroup lowered their target price on shares of QUALCOMM from $108.00 to $98.00 and set a buy rating on the stock in a report on Monday, March 30th. JPMorgan Chase & Co. lifted their target price on shares of QUALCOMM from $94.00 to $100.00 and gave the company an overweight rating in a report on Thursday, April 30th. Piper Sandler started coverage on shares of QUALCOMM in a report on Wednesday, March 4th. They issued a neutral rating and a $80.00 target price on the stock. Finally, Susquehanna Bancshares reaffirmed a buy rating and issued a $105.00 target price on shares of QUALCOMM in a report on Friday, June 12th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. QUALCOMM has an average rating of Hold and a consensus target price of $92.23.

Shares of QUALCOMM stock opened at $91.21 on Friday. QUALCOMM has a 1 year low of $58.00 and a 1 year high of $96.17. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57. The company has a market capitalization of $102.42 billion, a P/E ratio of 26.99, a PEG ratio of 1.63 and a beta of 1.35. The company’s fifty day moving average is $83.95 and its two-hundred day moving average is $81.93.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the firm posted $0.77 EPS. QUALCOMM’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts expect that QUALCOMM will post 3.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 2.85%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s payout ratio is presently 91.55%.

In other QUALCOMM news, EVP Donald J. Rosenberg sold 11,038 shares of QUALCOMM stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $87.68, for a total transaction of $967,811.84. Following the completion of the transaction, the executive vice president now owns 3,591 shares in the company, valued at $314,858.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Erin L. Polek sold 1,646 shares of QUALCOMM stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $79.47, for a total transaction of $130,807.62. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of QCOM. National Asset Management Inc. grew its holdings in shares of QUALCOMM by 5.3% during the fourth quarter. National Asset Management Inc. now owns 8,235 shares of the wireless technology company’s stock worth $728,000 after buying an additional 416 shares in the last quarter. Western Wealth Management LLC grew its holdings in shares of QUALCOMM by 2.4% during the fourth quarter. Western Wealth Management LLC now owns 17,289 shares of the wireless technology company’s stock worth $1,525,000 after buying an additional 404 shares in the last quarter. Chicago Equity Partners LLC grew its holdings in shares of QUALCOMM by 524.7% during the fourth quarter. Chicago Equity Partners LLC now owns 36,825 shares of the wireless technology company’s stock worth $3,249,000 after buying an additional 30,930 shares in the last quarter. Knuff & Co LLC grew its holdings in shares of QUALCOMM by 647.0% during the fourth quarter. Knuff & Co LLC now owns 22,410 shares of the wireless technology company’s stock worth $1,977,000 after buying an additional 19,410 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of QUALCOMM by 12.9% during the fourth quarter. Assetmark Inc. now owns 6,407 shares of the wireless technology company’s stock worth $565,000 after buying an additional 732 shares in the last quarter. Institutional investors and hedge funds own 74.56% of the company’s stock.

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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