QUALCOMM (NASDAQ:QCOM) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of QUALCOMM (NASDAQ:QCOM) from a sell rating to a neutral rating in a research note published on Monday, Analyst Ratings Network reports. The Goldman Sachs Group currently has $148.00 price objective on the wireless technology company’s stock, up from their prior price objective of $136.00.

Several other research firms also recently commented on QCOM. Mizuho increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock a buy rating in a research report on Thursday, April 29th. Canaccord Genuity increased their target price on shares of QUALCOMM from $180.00 to $188.00 and gave the stock a buy rating in a research report on Thursday, April 29th. KGI Securities started coverage on shares of QUALCOMM in a research report on Tuesday, June 29th. They set an outperform rating on the stock. Morgan Stanley increased their target price on shares of QUALCOMM from $167.00 to $173.00 and gave the stock an overweight rating in a research report on Thursday, April 29th. Finally, Susquehanna Bancshares downgraded QUALCOMM to a neutral rating and lowered their price target for the company from $175.00 to $155.00 in a research report on Monday, April 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $165.30.

Shares of NASDAQ:QCOM opened at $142.17 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.72 and a debt-to-equity ratio of 2.05. QUALCOMM has a 1 year low of $87.51 and a 1 year high of $167.94. The stock’s fifty day moving average price is $136.28. The stock has a market capitalization of $160.37 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.32.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 28th. The wireless technology company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.49. The firm had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.62 billion. QUALCOMM had a net margin of 27.28% and a return on equity of 103.71%. The business’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. On average, sell-side analysts anticipate that QUALCOMM will post 6.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, September 2nd will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, September 1st. QUALCOMM’s dividend payout ratio is 81.44%.

In other QUALCOMM news, EVP Brian Modoff sold 1,510 shares of the firm’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $129.32, for a total transaction of $195,273.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Erin L. Polek sold 1,835 shares of the firm’s stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.00, for a total transaction of $242,220.00. In the last 90 days, insiders have sold 4,855 shares of company stock valued at $643,533. Corporate insiders own 0.14% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of QUALCOMM by 5.2% in the first quarter. Larson Financial Group LLC now owns 1,577 shares of the wireless technology company’s stock valued at $209,000 after acquiring an additional 78 shares during the last quarter. Private Ocean LLC raised its stake in shares of QUALCOMM by 14.1% in the first quarter. Private Ocean LLC now owns 647 shares of the wireless technology company’s stock valued at $86,000 after acquiring an additional 80 shares during the last quarter. NorthRock Partners LLC raised its stake in shares of QUALCOMM by 2.2% in the first quarter. NorthRock Partners LLC now owns 3,791 shares of the wireless technology company’s stock valued at $503,000 after acquiring an additional 80 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of QUALCOMM by 0.8% in the first quarter. Cascade Investment Advisors Inc. now owns 10,178 shares of the wireless technology company’s stock valued at $1,350,000 after acquiring an additional 81 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its stake in shares of QUALCOMM by 0.5% in the first quarter. Convergence Investment Partners LLC now owns 16,246 shares of the wireless technology company’s stock valued at $2,154,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in 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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