According to Zacks, “Qualcomm has counter attacked Apple in relation to the $1 billion lawsuit filed against it in Jan 2017. Qualcomm’s Snapdragon processor is known for its IoT applications. Qualcomm moved one step closer to buy NXP Semiconductors, by getting the latter's shareholders approval. If this buyout goes through, then it will fortify Qualcomm's position in the semiconductor market. Patent license network deals , tie-up with AT&T and Ericsson for 5G network trials and launch of China’s first end-to-end data call bode well for Qualcomm’s prospects. Moreover, the company is foraying into areas like automotive, networking and mobile computing. However, over the past three months, the stock declined 16.3%, while the Zacks categorized Wireless Equipment industry contracted 4.2%. Moreover, competitive mobile phone chipset market, stringent regulatory norms along with anti-competitive and unfair business practices charges act as risks.”
A number of other research analysts have also issued reports on the stock. Susquehanna Bancshares Inc initiated coverage on shares of QUALCOMM in a report on Tuesday, December 20th. They issued a positive rating and a $80.00 price objective for the company. Vetr upgraded shares of QUALCOMM from a buy rating to a strong-buy rating and set a $73.44 price objective for the company in a report on Monday, January 2nd. Canaccord Genuity reiterated a buy rating and issued a $76.00 price objective on shares of QUALCOMM in a report on Wednesday, March 8th. Wells Fargo & Co reiterated an outperform rating and issued a $75.00 price objective (down previously from $80.00) on shares of QUALCOMM in a report on Saturday, January 28th. Finally, JPMorgan Chase & Co. lowered shares of QUALCOMM from an overweight rating to a neutral rating and raised their price target for the stock from $69.34 to $70.00 in a report on Wednesday, December 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $67.65.
QUALCOMM (NASDAQ:QCOM) traded down 0.36% on Wednesday, hitting $53.20. 3,472,789 shares of the stock traded hands. The company has a market cap of $78.58 billion, a price-to-earnings ratio of 16.22 and a beta of 1.31. QUALCOMM has a 1-year low of $50.11 and a 1-year high of $71.62. The stock has a 50-day moving average price of $57.01 and a 200 day moving average price of $62.34. QUALCOMM also was the target of some unusual options trading activity on Monday. Stock investors purchased 2,479 put options on the company. This represents an increase of approximately 350% compared to the typical volume of 551 put options.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 25th. The wireless technology company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The business earned $5.99 billion during the quarter, compared to analyst estimates of $6.12 billion. QUALCOMM had a net margin of 20.56% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. On average, analysts anticipate that QUALCOMM will post $4.66 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 31st will be issued a $0.57 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.53. This represents a $2.28 dividend on an annualized basis and a yield of 4.27%. QUALCOMM’s dividend payout ratio is 64.63%.
In other news, EVP Cristiano R. Amon acquired 18,815 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was acquired at an average price of $53.13 per share, for a total transaction of $999,640.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony J. Vinciquerra acquired 1,000 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was purchased at an average price of $53.99 per share, with a total value of $53,990.00. Following the acquisition, the director now owns 1,281 shares of the company’s stock, valued at approximately $69,161.19. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Aetna Inc. PA bought a new stake in QUALCOMM during the fourth quarter worth approximately $12,411,000. Nelson Roberts Investment Advisors LLC boosted its stake in QUALCOMM by 6.2% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 85,292 shares of the wireless technology company’s stock worth $5,843,000 after buying an additional 4,986 shares in the last quarter. Federated Investors Inc. PA boosted its stake in QUALCOMM by 117.6% in the fourth quarter. Federated Investors Inc. PA now owns 402,062 shares of the wireless technology company’s stock worth $26,214,000 after buying an additional 217,276 shares in the last quarter. Tredje AP fonden boosted its stake in QUALCOMM by 8.8% in the fourth quarter. Tredje AP fonden now owns 176,442 shares of the wireless technology company’s stock worth $11,504,000 after buying an additional 14,307 shares in the last quarter. Finally, Ray Gerald L & Associates Ltd. boosted its stake in QUALCOMM by 19.4% in the third quarter. Ray Gerald L & Associates Ltd. now owns 43,765 shares of the wireless technology company’s stock worth $2,998,000 after buying an additional 7,100 shares in the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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