QUALCOMM (NASDAQ:QCOM) Downgraded by Wall Street Zen to “Hold”

by · The Cerbat Gem

Wall Street Zen cut shares of QUALCOMM (NASDAQ:QCOM – Free Report) from a buy rating to a hold rating in a research report report published on Sunday.

Several other research analysts have also issued reports on the company. Citigroup reaffirmed a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. UBS Group upped their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Loop Capital cut their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $181.10.

Read Our Latest Stock Report on QUALCOMM

QUALCOMM Stock Performance

QCOM stock opened at $146.71 on Friday. QUALCOMM has a one year low of $120.80 and a one year high of $182.10. The firm has a market cap of $158.30 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 2.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a 50-day simple moving average of $155.11 and a two-hundred day simple moving average of $154.64.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm earned $2.33 earnings per share. QUALCOMM’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that QUALCOMM will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,352,355 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of QUALCOMM

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of QUALCOMM by 0.6% in the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock valued at $17,568,141,000 after buying an additional 638,284 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its holdings in shares of QUALCOMM by 656,661.0% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock worth $9,360,274,000 after purchasing an additional 58,764,593 shares during the last quarter. Northern Trust Corp grew its position in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in QUALCOMM by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,422,341 shares of the wireless technology company’s stock valued at $1,600,976,000 after buying an additional 641,654 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of QUALCOMM by 2.2% during the 1st quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock worth $1,512,458,000 after acquiring an additional 215,900 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

About QUALCOMM

(Get Free Report)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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