Qualcomm (NASDAQ:QCOM) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
QCOM has been the subject of several other research reports. Citigroup assumed coverage on Qualcomm in a research note on Thursday, April 12th. They set a “neutral” rating and a $58.00 target price for the company. KeyCorp raised their target price on Qualcomm from $68.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Morgan Stanley started coverage on Qualcomm in a research note on Monday, March 19th. They issued an “underweight” rating and a $55.00 price objective for the company. Zacks Investment Research cut Qualcomm from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Vetr raised Qualcomm from a “hold” rating to a “buy” rating and set a $74.63 price objective for the company in a research note on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $65.45.
NASDAQ QCOM opened at $49.94 on Monday. Qualcomm has a one year low of $48.92 and a one year high of $69.28. The company has a market cap of $76,149.88, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 1.60 and a beta of 1.44. The company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81.
Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.91 by $0.07. Qualcomm had a positive return on equity of 18.10% and a negative net margin of 18.65%. The business had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. research analysts predict that Qualcomm will post 2.8 EPS for the current fiscal year.
In related news, EVP Alexander H. Rogers sold 713 shares of Qualcomm stock in a transaction on Monday, January 29th. The stock was sold at an average price of $68.20, for a total transaction of $48,626.60. Following the sale, the executive vice president now directly owns 10,403 shares in the company, valued at $709,484.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James H. Thompson sold 50,126 shares of Qualcomm stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.66, for a total value of $3,140,895.16. Following the sale, the executive vice president now owns 136,482 shares in the company, valued at $8,551,962.12. The disclosure for this sale can be found here. Insiders sold 52,682 shares of company stock worth $3,306,030 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.
A number of institutional investors have recently modified their holdings of QCOM. Excalibur Management Corp lifted its holdings in Qualcomm by 187.1% during the third quarter. Excalibur Management Corp now owns 12,577 shares of the wireless technology company’s stock worth $652,000 after acquiring an additional 8,196 shares during the period. Pictet Asset Management Ltd. lifted its holdings in Qualcomm by 31.4% during the third quarter. Pictet Asset Management Ltd. now owns 3,989,102 shares of the wireless technology company’s stock worth $206,796,000 after acquiring an additional 952,222 shares during the period. FinTrust Investment Advisory Services LLC bought a new stake in Qualcomm during the third quarter worth $536,000. Well Done LLC bought a new stake in Qualcomm during the third quarter worth $1,000,000. Finally, Benedict Financial Advisors Inc. lifted its holdings in Qualcomm by 2.8% during the third quarter. Benedict Financial Advisors Inc. now owns 53,703 shares of the wireless technology company’s stock worth $2,784,000 after acquiring an additional 1,481 shares during the period. Institutional investors and hedge funds own 78.20% of the company’s stock.
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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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