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, The Fly reports. They currently have a $105.00 price target on the wireless technology company’s stock, up from their previous price target of $91.00.

QCOM has been the subject of several other research reports. Deutsche Bank upped their target price on shares of QUALCOMM from $90.00 to $100.00 and gave the stock a buy rating in a research note on Friday, July 17th. Rosenblatt Securities assumed coverage on shares of QUALCOMM in a research note on Friday, June 5th. They issued a buy rating and a $105.00 target price for the company. Wells Fargo & Co assumed coverage on shares of QUALCOMM in a research note on Monday, May 4th. They issued an underweight rating and a $70.00 target price for the company. Goldman Sachs Group lowered shares of QUALCOMM from a neutral rating to a sell rating and reduced their target price for the stock from $77.00 to $61.00 in a research note on Friday, April 17th. Finally, KeyCorp increased their price target on shares of QUALCOMM from $105.00 to $110.00 and gave the company an overweight rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $106.36.

Shares of QCOM stock opened at $105.61 on Wednesday. The firm has a market capitalization of $120.94 billion, a PE ratio of 44.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.34. The firm has a fifty day simple moving average of $90.67 and a two-hundred day simple moving average of $82.54. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 4.67. QUALCOMM has a 12 month low of $58.00 and a 12 month high of $107.75.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.80 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. QUALCOMM’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 EPS. On average, equities analysts predict that QUALCOMM will post 3.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 2nd. QUALCOMM’s dividend payout ratio is 91.55%.

In related news, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $102.42, for a total value of $401,998.50. Following the completion of the sale, the chief financial officer now directly owns 17,790 shares of the company’s stock, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. Insiders sold 235,740 shares of company stock worth $22,024,427 in the last 90 days. Company insiders own 0.12% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC lifted its stake in QUALCOMM by 3.4% in the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock worth $308,000 after acquiring an additional 110 shares during the period. Beacon Financial Advisory LLC lifted its stake in QUALCOMM by 1.8% in the second quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock worth $583,000 after acquiring an additional 116 shares during the period. Nadler Financial Group Inc. lifted its stake in QUALCOMM by 3.8% in the second quarter. Nadler Financial Group Inc. now owns 3,237 shares of the wireless technology company’s stock worth $295,000 after acquiring an additional 118 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in QUALCOMM by 1.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,508 shares of the wireless technology company’s stock valued at $508,000 after buying an additional 125 shares during the period. Finally, Country Club Trust Company n.a. lifted its position in QUALCOMM by 2.9% during the second quarter. Country Club Trust Company n.a. now owns 4,411 shares of the wireless technology company’s stock valued at $393,000 after buying an additional 125 shares during the period. 74.50% of the stock is owned by institutional investors.

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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The Fly

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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