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

Several other equities research analysts also recently weighed in on QCOM. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their target price for the company from $65.00 to $75.00 in a research note on Tuesday, November 28th. Vetr downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $69.52 target price for the company. in a research note on Thursday, November 23rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $55.00 target price on shares of QUALCOMM in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.02.

Shares of QUALCOMM (NASDAQ QCOM) traded down $0.99 during mid-day trading on Wednesday, reaching $64.24. 9,170,240 shares of the company traded hands, compared to its average volume of 12,719,505. The stock has a market capitalization of $94,700.36, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.82 and a beta of 1.39. 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 has a 12 month low of $48.92 and a 12 month high of $70.24.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. QUALCOMM’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. analysts anticipate that QUALCOMM will post 3.07 EPS for the current fiscal year.

In related news, EVP Matthew S. Grob sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $60.44, for a total transaction of $1,208,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now directly owns 12,035 shares of the company’s stock, valued at approximately $824,638.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,427 shares of company stock valued at $1,827,995. 0.17% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of QCOM. Northwestern Mutual Investment Management Company LLC increased its holdings in QUALCOMM by 76.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 298,573 shares of the wireless technology company’s stock valued at $17,120,000 after buying an additional 128,983 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in QUALCOMM by 11.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 85,014 shares of the wireless technology company’s stock valued at $4,874,000 after buying an additional 8,728 shares in the last quarter. Marietta Wealth Management LLC increased its holdings in QUALCOMM by 23.3% in the first quarter. Marietta Wealth Management LLC now owns 47,995 shares of the wireless technology company’s stock valued at $2,752,000 after buying an additional 9,059 shares in the last quarter. Tiedemann Wealth Management LLC increased its holdings in QUALCOMM by 57.4% in the first quarter. Tiedemann Wealth Management LLC now owns 82,787 shares of the wireless technology company’s stock valued at $4,747,000 after buying an additional 30,198 shares in the last quarter. Finally, First National Trust Co. increased its holdings in QUALCOMM by 32.7% in the first quarter. First National Trust Co. now owns 92,756 shares of the wireless technology company’s stock valued at $5,319,000 after buying an additional 22,845 shares in the last quarter. 76.66% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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