QUALCOMM (NASDAQ:QCOM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.
A number of other equities research analysts have also commented on the company. ValuEngine upgraded QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus downgraded QUALCOMM from a “buy” rating to a “hold” rating and lifted their price target for the stock from $65.00 to $75.00 in a research report on Tuesday, November 28th. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Monday, November 27th. Royal Bank Of Canada upped their price target on QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Finally, Sanford C. Bernstein reiterated a “hold” rating on shares of QUALCOMM in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $66.02.
QUALCOMM (NASDAQ:QCOM) traded up $0.25 during trading hours on Wednesday, reaching $65.23. The company had a trading volume of 8,754,900 shares, compared to its average volume of 11,392,807. The firm has a market capitalization of $95,791.25, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.82 and a beta of 1.39. QUALCOMM has a 1 year low of $48.92 and a 1 year high of $70.24. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63.
QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company posted $1.28 EPS. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. equities analysts anticipate that QUALCOMM will post 3.07 earnings per share for the current fiscal year.
In related news, EVP Michelle M. Sterling sold 7,840 shares of QUALCOMM stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of QUALCOMM stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares in the company, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last three months, insiders sold 29,427 shares of company stock worth $1,827,995. 0.17% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in QCOM. Vanguard Group Inc. grew its holdings in QUALCOMM by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 103,484,572 shares of the wireless technology company’s stock valued at $5,714,418,000 after purchasing an additional 1,537,645 shares during the last quarter. FMR LLC lifted its position in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after purchasing an additional 11,387,347 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of QUALCOMM by 2.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 25,674,098 shares of the wireless technology company’s stock worth $1,330,946,000 after purchasing an additional 498,324 shares during the period. Capital International Investors lifted its position in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after purchasing an additional 6,322,645 shares during the period. Finally, Northern Trust Corp lifted its position in QUALCOMM by 2.6% during the second quarter. Northern Trust Corp now owns 19,519,161 shares of the wireless technology company’s stock valued at $1,077,848,000 after acquiring an additional 499,531 shares during the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
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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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