According to the market reports, during mid-day trading on Friday, Sept. 30, the stock of the tech company Qualcomm Inc. (NASDAQ:QCOM) reached a new one-year high.
According to The Cerbat Gem, the one-year high record for Qualcomm has been reached right after Cowen and Company raised the price target on the stock from $62.00 to $74.00. The rating of the Qualcomm stock is currently set as "outperform" by Cowen and Company.
During the mid-day trading session of Friday, Sept. 30, Qualcomm stock traded as high as $70.40. The tech company's stock traded during the day with a volume of 23,885,341 shares and last traded at $68.59. In the previous trading session the stock had closed at $67.45.
The tech company Qualcomm has also been analyzed by several other market reports. For instance, BMO Capital Markets labeled shares of Qualcomm at an "underperform" rating from a "market perform" rating. In a research note dating from Thursday, July 14, BMO Capital Markets also set a $50.00 price target on the Qualcomm stock.
Target price on shares of Qualcomm were raised from $56.00 to $59.00 by Mizuho. In a research report on Tuesday, Sept. 6, Mizuho also gave the Qualcomm stock a "neutral" rating.
Meanwhile, in a research report on Tuesday, Sept. 20, Morgan Stanley issued a $65.00 target price on shares of Qualcomm and reissued an "overweight" rating for the company's stock.
In a research report on Thursday, July 21, Pacific Crest gave the stock an "overweight" rating for Qualcomm stock and raised their target price on company's shares from $59.00 to $67.00.
In a research report on Friday, July 1, Evercore ISI decreased their target price for the stock from $60.00 to $55.00 and cut shares of Qualcomm from a "buy" rating to a "hold" rating.
Overall, the high-tech company Qualcomm has an average target price of $63.02 and a consensus rating of "Buy". Two investment analysts have issued a strong buy rating to the company's stock, twenty-one have issued a buy rating, fourteen have given a hold rating and only one investment analyst has given the stock a sell rating.
Stock Daily reports that Qualcomm announced on July 12, 2016 that its dividend payout was $0.53 per share. The scheduled date for the company's dividend record has been Aug. 31 and the payment date was set to Sept. 21, 2016. After the record date, the shares of the company are trading ex-dividend.
According to the trading rules, because it takes three days to settle the trades, investors have to buy the dividend-paying equity at least three days before the record date. Shareholders have to keep the stock one day before the reported ex-dividend date, since this date is typically set two business days before the record date.