QUALCOMM (NASDAQ:QCOM) was upgraded by stock analysts at Edward Jones from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat.com reports.
Several other brokerages have also commented on QCOM. Morgan Stanley boosted their price objective on QUALCOMM from $102.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group boosted their price objective on QUALCOMM from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Raymond James boosted their price objective on QUALCOMM from $110.00 to $120.00 and gave the stock a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Finally, Rosenblatt Securities boosted their target price on QUALCOMM from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.36.
QCOM stock traded down $1.58 during mid-day trading on Friday, reaching $105.61. 16,770,274 shares of the company traded hands, compared to its average volume of 8,403,357. The company has a debt-to-equity ratio of 4.67, a current ratio of 1.97 and a quick ratio of 1.39. The company has a market capitalization of $119.16 billion, a P/E ratio of 44.56, a P/E/G ratio of 1.95 and a beta of 1.34. QUALCOMM has a 52-week low of $58.00 and a 52-week high of $107.75. The company has a fifty day moving average price of $90.67 and a 200-day moving average price of $82.54.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. QUALCOMM had a return on equity of 78.39% and a net margin of 13.72%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. QUALCOMM’s revenue was down .1% on a year-over-year basis. As a group, analysts forecast that QUALCOMM will post 3.08 EPS for the current year.
In related news, CAO Erin L. Polek sold 1,646 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven M. Mollenkopf sold 219,131 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $93.66, for a total value of $20,523,809.46. The disclosure for this sale can be found here. Insiders sold 235,740 shares of company stock valued at $22,024,427 in the last quarter. Corporate insiders own 0.12% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Hexavest Inc. raised its holdings in shares of QUALCOMM by 109.6% during the second quarter. Hexavest Inc. now owns 327 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 171 shares in the last quarter. Harwood Advisory Group LLC bought a new position in shares of QUALCOMM during the first quarter valued at approximately $32,000. Advisory Alpha LLC raised its holdings in shares of QUALCOMM by 493.9% during the first quarter. Advisory Alpha LLC now owns 487 shares of the wireless technology company’s stock valued at $36,000 after acquiring an additional 405 shares in the last quarter. Sound Income Strategies LLC grew its stake in QUALCOMM by 118.7% in the first quarter. Sound Income Strategies LLC now owns 503 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 273 shares during the period. Finally, S.A. Mason LLC grew its stake in QUALCOMM by 70.4% in the second quarter. S.A. Mason LLC now owns 605 shares of the wireless technology company’s stock worth $55,000 after purchasing an additional 250 shares during the period. Institutional investors own 74.50% of the company’s stock.
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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