QUALCOMM Incorporated (QCOM) Lifted to “Outperform” at Northland Securities
QUALCOMM Incorporated (NASDAQ:QCOM) was upgraded by investment analysts at Northland Securities from a “market perform” rating to an “outperform” rating in a report issued on Friday.
Several other research analysts have also recently issued reports on QCOM. BMO Capital Markets reissued a “market perform” rating and issued a $54.00 price objective on shares of QUALCOMM in a research note on Monday, July 10th. Zacks Investment Research raised QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Rosenblatt Securities reissued a “neutral” rating and issued a $56.00 price objective on shares of QUALCOMM in a research note on Friday, June 30th. Wells Fargo & Company reissued an “outperform” rating on shares of QUALCOMM in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM has an average rating of “Hold” and a consensus target price of $63.96.
QUALCOMM (NASDAQ QCOM) opened at 51.47 on Friday. The stock has a 50 day moving average price of $52.12 and a 200-day moving average price of $55.10. The stock has a market cap of $75.97 billion, a PE ratio of 19.71 and a beta of 1.29. QUALCOMM has a 1-year low of $48.92 and a 1-year high of $71.62.
QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 19th. The wireless technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The firm had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.25 billion. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, equities analysts expect that QUALCOMM will post $4.16 EPS for the current year.
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In other news, President Derek K. Aberle sold 23,104 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the completion of the sale, the president now directly owns 5,855 shares of the company’s stock, valued at $324,249.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle M. Sterling sold 4,740 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,995 shares of company stock valued at $1,587,390. 0.17% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in QCOM. Westwood Holdings Group Inc. purchased a new stake in shares of QUALCOMM in the second quarter valued at about $114,000. Krilogy Financial LLC increased its stake in shares of QUALCOMM by 47.0% during the second quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after acquiring an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of QUALCOMM during the second quarter worth about $141,000. Jacobi Capital Management LLC increased its stake in shares of QUALCOMM by 10.8% during the first quarter. Jacobi Capital Management LLC now owns 2,567 shares of the wireless technology company’s stock worth $145,000 after acquiring an additional 250 shares during the period. Finally, Alpha Windward LLC increased its stake in shares of QUALCOMM by 6.1% during the second quarter. Alpha Windward LLC now owns 2,680 shares of the wireless technology company’s stock worth $148,000 after acquiring an additional 153 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.
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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