QUALCOMM (NASDAQ:QCOM) Rating Lowered to Buy at StockNews.com

by · The Markets Daily

QUALCOMM (NASDAQ:QCOM – Get Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Other equities analysts also recently issued research reports about the company. KeyCorp boosted their target price on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, July 17th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Barclays raised their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $211.67.

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QUALCOMM Stock Performance

NASDAQ:QCOM opened at $168.92 on Wednesday. The company has a market cap of $188.18 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.86 and a beta of 1.28. QUALCOMM has a 1 year low of $104.33 and a 1 year high of $230.63. The stock’s 50 day simple moving average is $168.23 and its two-hundred day simple moving average is $181.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities analysts anticipate that QUALCOMM will post 8.02 earnings per share for the current fiscal year.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the transaction, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,245 shares of company stock valued at $3,679,407. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter valued at $27,000. HWG Holdings LP acquired a new stake in QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. purchased a new position in QUALCOMM during the second quarter worth about $32,000. Aspect Partners LLC grew its stake in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 74 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $37,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

(Get Free Report)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

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