QUALCOMM (QCOM) Downgraded by BidaskClub to Hold
QUALCOMM (NASDAQ:QCOM) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.
A number of other brokerages also recently weighed in on QCOM. Vetr upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, November 27th. Stifel Nicolaus downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and increased their price objective for the company from $65.00 to $75.00 in a research report on Tuesday, November 28th. Sanford C. Bernstein restated a “hold” rating on shares of QUALCOMM in a research report on Monday, November 13th. Royal Bank Of Canada increased their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.02.
QUALCOMM (NASDAQ QCOM) opened at $64.69 on Wednesday. The firm has a market cap of $96,543.06, a P/E ratio of 17.33, a P/E/G ratio of 1.83 and a beta of 1.39. QUALCOMM has a 52-week low of $48.92 and a 52-week high of $70.24. 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 (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. equities analysts expect that QUALCOMM will post 3.07 EPS for the current 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alexander H. Rogers sold 874 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were 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 $824,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 29,427 shares of company stock worth $1,827,995 over the last 90 days. Insiders own 0.24% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of QUALCOMM by 16.5% in the 2nd quarter. FMR LLC now owns 80,528,523 shares of the wireless technology company’s stock worth $4,446,786,000 after buying an additional 11,387,347 shares in the last quarter. Veritas Asset Management LLP purchased a new position in shares of QUALCOMM in the 2nd quarter worth $440,415,000. Capital International Investors grew its stake in shares of QUALCOMM by 41.8% in the 3rd quarter. Capital International Investors now owns 21,455,439 shares of the wireless technology company’s stock worth $1,112,250,000 after buying an additional 6,322,645 shares in the last quarter. Baupost Group LLC MA purchased a new position in shares of QUALCOMM in the 1st quarter worth $299,085,000. Finally, Nordea Investment Management AB grew its stake in shares of QUALCOMM by 589.4% in the 1st quarter. Nordea Investment Management AB now owns 5,912,226 shares of the wireless technology company’s stock worth $339,007,000 after buying an additional 5,054,642 shares in the last quarter. 76.66% of the stock is owned by institutional investors.
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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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