QUALCOMM (NASDAQ:QCOM) Rating Lowered to Hold at BidaskClub

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BidaskClub downgraded shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a hold rating in a research note published on Saturday, BidAskClub reports.

Several other research firms have also issued reports on QCOM. Citigroup cut their price target 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. Charter Equity reaffirmed a hold rating on shares of QUALCOMM in a report on Thursday, April 30th. Tigress Financial reaffirmed a buy rating on shares of QUALCOMM in a report on Friday, April 17th. ValuEngine raised shares of QUALCOMM from a sell rating to a hold rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Co started coverage on shares of QUALCOMM in a report on Monday, May 4th. They set an underweight rating and a $70.00 price objective on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. QUALCOMM currently has an average rating of Hold and a consensus target price of $92.23.

Shares of QCOM stock opened at $91.21 on Friday. The firm has a market cap of $102.42 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.63 and a beta of 1.35. The company’s 50 day moving average is $83.95 and its 200 day moving average is $81.93. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 4.42. QUALCOMM has a 52-week low of $58.00 and a 52-week high of $96.17.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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 business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts anticipate that QUALCOMM will post 3.08 EPS for the current fiscal year.

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

In other QUALCOMM news, CAO Erin L. Polek sold 1,646 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald J. Rosenberg sold 11,038 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was 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 of the company’s stock, valued at approximately $314,858.88. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Institutional investors have recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth about $27,000. Harwood Advisory Group LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth about $32,000. RMR Wealth Builders acquired a new position in shares of QUALCOMM during the 4th quarter worth about $34,000. Sound Income Strategies LLC raised its position in shares of QUALCOMM by 118.7% during the 1st quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 273 shares during the last quarter. Finally, Advisory Alpha LLC raised its position in shares of QUALCOMM by 493.9% during the 1st quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 405 shares during 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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