QUALCOMM (NASDAQ:QCOM) was upgraded by equities researchers at DZ Bank from a “sell” rating to a “hold” rating in a research report issued on Friday, The Fly reports. The brokerage presently has a $92.00 price objective on the wireless technology company’s stock. DZ Bank’s target price would indicate a potential downside of 2.18% from the stock’s current price.
QCOM has been the subject of several other research reports. Bank of America reduced their price target on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Daiwa Capital Markets initiated coverage on shares of QUALCOMM in a research report on Thursday, July 18th. They set a “neutral” rating for the company. Rosenblatt Securities restated a “buy” rating and set a $95.00 price target on shares of QUALCOMM in a research report on Thursday. Morgan Stanley set a $89.00 price target on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank reduced their price target on shares of QUALCOMM from $80.00 to $75.00 and set an “in-line” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.18.
Shares of QCOM stock traded up $4.07 during mid-day trading on Friday, hitting $94.05. 1,329,906 shares of the stock were exchanged, compared to its average volume of 6,227,865. The firm has a fifty day moving average of $78.64 and a 200 day moving average of $76.41. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. QUALCOMM has a 52-week low of $49.10 and a 52-week high of $92.50. The company has a market cap of $103.89 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue for the quarter was down 17.2% on a year-over-year basis. Equities analysts predict that QUALCOMM will post 3.29 EPS for the current year.
In other news, EVP Michelle M. Sterling sold 10,398 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $75.01, for a total transaction of $779,953.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Cristiano R. Amon sold 8,611 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $80.03, for a total transaction of $689,138.33. Following the sale, the president now owns 50,434 shares of the company’s stock, valued at approximately $4,036,233.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,118 shares of company stock valued at $1,477,392. 0.11% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Weaver Consulting Group purchased a new stake in QUALCOMM during the 1st quarter worth $25,000. Krane Funds Advisors LLC bought a new stake in QUALCOMM during the 2nd quarter worth about $28,000. Ibex Wealth Advisors bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $28,000. Lavaca Capital LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $25,000. Finally, Hexavest Inc. acquired a new stake in QUALCOMM during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 78.30% of the company’s stock.
QUALCOMM Company Profile
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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