BidaskClub Downgrades QUALCOMM (QCOM) to Sell

QUALCOMM (NASDAQ:QCOM) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently issued reports on QCOM. Mizuho reiterated a “buy” rating on shares of QUALCOMM in a research report on Friday, October 27th. Canaccord Genuity increased their target price on shares of QUALCOMM from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. UBS Group cut their target price on shares of QUALCOMM from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $69.52 target price for the company in a research report on Monday, November 13th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.25.

QUALCOMM (NASDAQ QCOM) opened at $62.18 on Wednesday. QUALCOMM has a 52 week low of $48.92 and a 52 week high of $69.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.41 and a quick ratio of 3.25. The company has a market cap of $93,855.02, a P/E ratio of 17.76, a P/E/G ratio of 1.97 and a beta of 1.38.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $5.93 billion. During the same quarter last year, the business posted $1.19 EPS. The company’s revenue was up 1.7% on a year-over-year basis. analysts forecast that QUALCOMM will post 2.8 earnings per share for the current fiscal year.

In related news, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $68.52, for a total value of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares in the company, valued at approximately $824,638.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total transaction of $48,626.60. Following the completion of the transaction, the executive vice president now owns 10,403 shares in the company, valued at $709,484.60. The disclosure for this sale can be found here. Insiders sold a total of 45,506 shares of company stock worth $2,977,673 over the last quarter. 0.17% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Meridian Investment Counsel Inc. grew its position in QUALCOMM by 0.3% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 18,293 shares of the wireless technology company’s stock worth $1,010,000 after purchasing an additional 50 shares during the last quarter. Valueworks LLC grew its position in QUALCOMM by 0.3% in the 2nd quarter. Valueworks LLC now owns 14,976 shares of the wireless technology company’s stock worth $827,000 after purchasing an additional 50 shares during the last quarter. Birch Hill Investment Advisors LLC grew its position in QUALCOMM by 1.4% in the 2nd quarter. Birch Hill Investment Advisors LLC now owns 3,651 shares of the wireless technology company’s stock worth $202,000 after purchasing an additional 51 shares during the last quarter. Logan Capital Management Inc. grew its position in QUALCOMM by 0.6% in the 2nd quarter. Logan Capital Management Inc. now owns 11,095 shares of the wireless technology company’s stock worth $613,000 after purchasing an additional 64 shares during the last quarter. Finally, ARGI Investment Services LLC grew its position in QUALCOMM by 1.6% in the 2nd quarter. ARGI Investment Services LLC now owns 5,165 shares of the wireless technology company’s stock worth $285,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.

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About QUALCOMM

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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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