QUALCOMM, Inc. (NASDAQ:QCOM) Director Clark T. Jr. Randt sold 2,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.58, for a total transaction of $179,160.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
QUALCOMM stock opened at $83.78 on Friday. The firm has a market capitalization of $105.55 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.08 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. QUALCOMM, Inc. has a 1-year low of $49.10 and a 1-year high of $90.34.
QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.83 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. QUALCOMM’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS. On average, research analysts anticipate that QUALCOMM, Inc. will post 3.14 earnings per share for the current year.The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 6th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, June 5th. QUALCOMM’s dividend payout ratio is currently 77.74%.
Several institutional investors have recently made changes to their positions in QCOM. Oregon Public Employees Retirement Fund grew its holdings in QUALCOMM by 9,505.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 33,612,696 shares of the wireless technology company’s stock worth $591,000 after acquiring an additional 33,262,770 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in QUALCOMM by 24.1% during the 4th quarter. Bank of New York Mellon Corp now owns 25,852,938 shares of the wireless technology company’s stock worth $1,471,289,000 after acquiring an additional 5,022,323 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in QUALCOMM by 0.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock worth $1,147,095,000 after acquiring an additional 96,527 shares during the last quarter. Norges Bank bought a new stake in QUALCOMM during the 4th quarter worth approximately $736,806,000. Finally, Eaton Vance Management grew its holdings in QUALCOMM by 10.3% during the 4th quarter. Eaton Vance Management now owns 7,306,885 shares of the wireless technology company’s stock worth $415,835,000 after acquiring an additional 680,397 shares during the last quarter. 83.44% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on QCOM. Canaccord Genuity upped their target price on shares of QUALCOMM from $89.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research report on Monday. Deutsche Bank reiterated a “hold” rating on shares of QUALCOMM in a research report on Monday, April 29th. Bank of America reiterated a “neutral” rating and set a $90.00 target price (up from $71.00) on shares of QUALCOMM in a research report on Tuesday, April 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $84.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. QUALCOMM currently has an average rating of “Buy” and a consensus price target of $83.09.
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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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