Morgan Stanley downgraded shares of QUALCOMM (NASDAQ:QCOM) from an overweight rating to an equal rating in a research note published on Monday morning, Briefing.com Automated Import reports. The firm currently has $90.00 price objective on the wireless technology company’s stock, up from their prior price objective of $89.00. The analysts noted that the move was a valuation call.
QCOM has been the topic of several other reports. Bank of America cut their price objective on shares of QUALCOMM from $105.00 to $100.00 and set a buy rating on the stock in a report on Thursday, August 1st. TheStreet upgraded shares of QUALCOMM from a c+ rating to a b- rating in a report on Thursday, August 1st. DZ Bank raised shares of QUALCOMM from a sell rating to a hold rating and set a $92.00 target price for the company in a research report on Friday, November 8th. Cowen reissued an outperform rating and set a $100.00 target price (up previously from $80.00) on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, BidaskClub raised shares of QUALCOMM from a buy rating to a strong-buy rating in a research report on Saturday, September 7th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $85.22.
Shares of QCOM stock traded up $0.01 during trading hours on Monday, hitting $90.48. 8,793,500 shares of the company were exchanged, compared to its average volume of 14,083,021. The firm has a market cap of $104.87 billion, a PE ratio of 31.86, a PEG ratio of 1.89 and a beta of 1.59. QUALCOMM has a 1 year low of $49.10 and a 1 year high of $94.11. The company has a quick ratio of 1.72, a current ratio of 1.88 and a debt-to-equity ratio of 2.74. The firm has a fifty day moving average of $80.45 and a 200 day moving average of $76.67.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.71 billion. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The company’s revenue was down 17.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. Analysts expect that QUALCOMM will post 3.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Wednesday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.
In other news, Director Mark D. Mclaughlin acquired 2,705 shares of the stock in a transaction on Wednesday, August 28th. The stock was bought at an average price of $73.84 per share, with a total value of $199,737.20. Following the completion of the transaction, the director now directly owns 5,220 shares of the company’s stock, valued at $385,444.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michelle M. Sterling sold 10,398 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The disclosure for this sale can be found here. Insiders sold 19,118 shares of company stock valued at $1,477,392 in the last ninety days. 0.11% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust boosted its stake in shares of QUALCOMM by 11.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,249 shares of the wireless technology company’s stock valued at $95,000 after buying an additional 129 shares during the last quarter. Farmers Trust Co. boosted its stake in shares of QUALCOMM by 3.1% during the 3rd quarter. Farmers Trust Co. now owns 4,382 shares of the wireless technology company’s stock valued at $335,000 after buying an additional 132 shares during the last quarter. Shulman DeMeo Asset Management LLC boosted its stake in shares of QUALCOMM by 0.8% during the 3rd quarter. Shulman DeMeo Asset Management LLC now owns 17,153 shares of the wireless technology company’s stock valued at $1,308,000 after buying an additional 132 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of QUALCOMM by 1.6% during the 3rd quarter. Miracle Mile Advisors LLC now owns 8,845 shares of the wireless technology company’s stock valued at $675,000 after buying an additional 137 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in shares of QUALCOMM by 1.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 8,688 shares of the wireless technology company’s stock valued at $663,000 after buying an additional 138 shares during the last quarter. 78.22% of the stock is owned by institutional investors.
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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