QUALCOMM Incorporated (NASDAQ:QCOM) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Monday, July 24th.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets reiterated a “market perform” rating and set a $60.00 price objective on shares of QUALCOMM in a research report on Saturday, April 22nd. UBS AG reiterated a “neutral” rating and set a $58.00 price objective on shares of QUALCOMM in a research report on Tuesday, May 2nd. Vetr lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $58.52 price objective for the company. in a research report on Tuesday, May 2nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of QUALCOMM in a research report on Monday, May 15th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of QUALCOMM in a research report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $63.96.
Shares of QUALCOMM (QCOM) opened at 52.62 on Monday. The firm has a 50-day moving average of $55.44 and a 200 day moving average of $56.02. The company has a market capitalization of $77.67 billion, a P/E ratio of 20.15 and a beta of 1.29. QUALCOMM has a 1-year low of $51.05 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a net margin of 17.26% and a return on equity of 19.64%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.25 billion. During the same quarter last year, the business earned $1.16 earnings per share. QUALCOMM’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, analysts anticipate that QUALCOMM will post $4.16 EPS for the current year.
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In other QUALCOMM news, EVP Alexander H. Rogers sold 470 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $57.28, for a total transaction of $26,921.60. Following the completion of the sale, the executive vice president now directly owns 3,049 shares in the company, valued at approximately $174,646.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann M. Livermore acquired 9,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were acquired at an average price of $54.59 per share, with a total value of $491,310.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 62,802 shares of company stock valued at $3,544,381. Company insiders own 0.17% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in QUALCOMM during the fourth quarter valued at about $922,599,000. Baupost Group LLC MA purchased a new position in QUALCOMM during the first quarter valued at about $299,085,000. Nordea Investment Management AB boosted its position in QUALCOMM by 589.4% in the first quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock valued at $339,007,000 after buying an additional 5,054,642 shares in the last quarter. Schroder Investment Management Group boosted its position in QUALCOMM by 30.8% in the first quarter. Schroder Investment Management Group now owns 6,562,412 shares of the wireless technology company’s stock valued at $375,369,000 after buying an additional 1,544,792 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in QUALCOMM during the second quarter valued at about $82,556,000. Hedge funds and other institutional investors own 76.76% of the company’s stock.
About QUALCOMM
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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