QUALCOMM’s (QCOM) Buy Rating Reaffirmed at Mizuho

Mizuho reaffirmed their buy rating on shares of QUALCOMM (NASDAQ:QCOM) in a report published on Wednesday, The Fly reports. The firm currently has a $105.00 price target on the wireless technology company’s stock, up from their previous price target of $91.00.

Several other equities research analysts have also commented on the company. Goldman Sachs Group lowered QUALCOMM from a neutral rating to a sell rating and lowered their price objective for the stock from $77.00 to $61.00 in a research report on Friday, April 17th. Deutsche Bank upped their price objective on QUALCOMM from $90.00 to $100.00 and gave the stock a buy rating in a research report on Friday, July 17th. Raymond James lowered QUALCOMM to a sell rating in a research report on Friday, June 5th. Canaccord Genuity upped their price objective on QUALCOMM from $102.00 to $115.00 and gave the stock a buy rating in a research report on Thursday, July 2nd. Finally, Susquehanna Bancshares restated a buy rating and issued a $105.00 price objective on shares of QUALCOMM in a research report on Friday, June 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM has an average rating of Buy and an average price target of $106.36.

Shares of NASDAQ:QCOM opened at $105.61 on Wednesday. QUALCOMM has a twelve month low of $58.00 and a twelve month high of $107.75. The company’s 50 day moving average is $90.67 and its 200 day moving average is $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. The company has a market cap 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.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 29th. The wireless technology company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company earned $0.80 EPS. QUALCOMM’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts predict that QUALCOMM will post 3.08 earnings per share for the current fiscal year.

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

In other QUALCOMM 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 SEC, which is accessible through this hyperlink. Also, EVP Donald J. Rosenberg sold 11,038 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $87.68, for a total value of $967,811.84. Following the completion of the sale, the executive vice president now directly owns 3,591 shares of the company’s stock, valued at $314,858.88. The disclosure for this sale can be found here. Insiders sold a total of 235,740 shares of company stock worth $22,024,427 in the last 90 days. 0.12% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Asset Management Inc. raised its holdings in shares of QUALCOMM by 48.2% during the 2nd quarter. National Asset Management Inc. now owns 25,723 shares of the wireless technology company’s stock worth $2,348,000 after acquiring an additional 8,365 shares during the period. Comerica Bank raised its holdings in shares of QUALCOMM by 3.0% during the 2nd quarter. Comerica Bank now owns 247,714 shares of the wireless technology company’s stock worth $22,938,000 after acquiring an additional 7,170 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of QUALCOMM by 21.6% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 69,471 shares of the wireless technology company’s stock worth $6,336,000 after acquiring an additional 12,346 shares during the period. Lincoln National Corp raised its holdings in shares of QUALCOMM by 42.0% during the 2nd quarter. Lincoln National Corp now owns 7,013 shares of the wireless technology company’s stock worth $640,000 after acquiring an additional 2,076 shares during the period. Finally, Cadence Bank NA raised its holdings in shares of QUALCOMM by 40.7% during the 2nd quarter. Cadence Bank NA now owns 4,967 shares of the wireless technology company’s stock worth $453,000 after acquiring an additional 1,437 shares during the period. Institutional investors and hedge funds own 74.50% of the company’s stock.

About QUALCOMM

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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