Deutsche Bank Raises QUALCOMM (NASDAQ:QCOM) Price Target to $115.00

QUALCOMM (NASDAQ:QCOM) had its price objective lifted by Deutsche Bank from $100.00 to $115.00 in a research report released on Thursday, AnalystRatings.com reports. The brokerage currently has a buy rating on the wireless technology company’s stock.

A number of other research analysts also recently weighed in on QCOM. Rosenblatt Securities began coverage on shares of QUALCOMM in a research report on Friday, June 5th. They set a buy rating and a $105.00 target price for the company. Goldman Sachs Group downgraded shares of QUALCOMM from a neutral rating to a sell rating and reduced their target price for the company from $77.00 to $61.00 in a research report on Friday, April 17th. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $100.00 to $108.00 and gave the company an overweight rating in a research report on Monday, July 27th. Tigress Financial reissued a buy rating on shares of QUALCOMM in a research report on Friday, April 17th. Finally, Charter Equity reaffirmed a hold rating on shares of QUALCOMM in a report on Thursday, April 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $106.36.

QCOM stock traded down $1.58 during trading on Thursday, reaching $105.61. The stock had a trading volume of 16,770,274 shares, compared to its average volume of 8,403,357. QUALCOMM has a one year low of $58.00 and a one year high of $107.75. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The company’s 50 day moving average is $90.67 and its two-hundred day moving average is $82.54. The company has a market capitalization of $119.16 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 1.95 and a beta of 1.34.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm posted $0.80 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts predict that QUALCOMM will post 3.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Wednesday, September 2nd. QUALCOMM’s dividend payout ratio (DPR) is currently 91.55%.

In other news, CEO Steven M. Mollenkopf sold 219,131 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $93.66, for a total transaction of $20,523,809.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Erin L. Polek sold 1,646 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,740 shares of company stock worth $22,024,427. Corporate insiders own 0.12% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Hexavest Inc. raised its position in QUALCOMM by 109.6% in the 2nd quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 171 shares during the period. RMR Wealth Builders purchased a new position in QUALCOMM in the 4th quarter worth $34,000. Harwood Advisory Group LLC purchased a new position in QUALCOMM in the 1st quarter worth $32,000. Advisory Alpha LLC raised its position in QUALCOMM by 493.9% in the 1st quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 405 shares during the period. Finally, Sound Income Strategies LLC raised its position in QUALCOMM by 118.7% in the 1st quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 74.50% of the company’s stock.

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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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