QUALCOMM (NASDAQ:QCOM) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.
A number of other equities research analysts have also recently issued reports on QCOM. ValuEngine raised shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Northland Securities reissued a “buy” rating and issued a $75.00 price target on shares of QUALCOMM in a report on Thursday, February 1st. Vetr raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $74.63 price target on the stock in a report on Friday, January 26th. Mizuho reissued a “buy” rating and issued a $75.00 price target (up from $65.00) on shares of QUALCOMM in a report on Wednesday, January 17th. Finally, Stifel Nicolaus cut shares of QUALCOMM from a “buy” rating to a “hold” rating and increased their price target for the company from $65.00 to $75.00 in a report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $68.25.
Shares of QUALCOMM (NASDAQ:QCOM) traded down $0.86 during mid-day trading on Wednesday, hitting $63.99. 27,493,900 shares of the stock were exchanged, compared to its average volume of 11,712,837. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.25 and a current ratio of 3.41. The company has a market cap of $94,730.00, a PE ratio of -26.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.38. QUALCOMM has a 12 month low of $48.92 and a 12 month high of $69.28.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.07. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $5.93 billion. QUALCOMM had a negative net margin of 18.65% and a positive return on equity of 18.10%. QUALCOMM’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. research analysts anticipate that QUALCOMM will post 2.8 EPS for the current fiscal year.
In other QUALCOMM news, EVP Matthew S. Grob sold 43,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the sale, the executive vice president now owns 43,000 shares in the company, valued at $2,810,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alexander H. Rogers sold 919 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $64.32, for a total transaction of $59,110.08. Following the completion of the sale, the executive vice president now owns 11,116 shares in the company, valued at approximately $714,981.12. The disclosure for this sale can be found here. Insiders have sold a total of 45,506 shares of company stock worth $2,977,673 in the last quarter. 0.24% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Truewealth LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $102,000. We Are One Seven LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $119,000. Gradient Investments LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $120,000. Cerebellum GP LLC bought a new stake in QUALCOMM in the fourth quarter valued at $126,000. Finally, Westwood Holdings Group Inc. bought a new stake in QUALCOMM in the second quarter valued at $114,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.
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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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