QUALCOMM Incorporated (QCOM) Downgraded by Vetr Inc. to Hold
QUALCOMM Incorporated (NASDAQ:QCOM) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research report issued on Thursday. They presently have a $69.52 price objective on the wireless technology company’s stock. Vetr‘s target price indicates a potential upside of 2.04% from the company’s previous close.
Other analysts have also issued reports about the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price objective on shares of QUALCOMM in a research note on Thursday, August 24th. William Blair reaffirmed a “market perform” rating on shares of QUALCOMM in a research note on Tuesday, September 5th. Wells Fargo & Co reaffirmed an “outperform” rating on shares of QUALCOMM in a research note on Monday, July 31st. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Sanford C. Bernstein reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company. QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $65.42.
Shares of QUALCOMM (NASDAQ QCOM) opened at $68.13 on Thursday. The stock has a market cap of $98,282.58, a price-to-earnings ratio of 17.64, a PEG ratio of 1.86 and a beta of 1.26. QUALCOMM has a one year low of $48.92 and a one year high of $70.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.81 and a current ratio of 4.00.
QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. QUALCOMM had a net margin of 11.06% and a return on equity of 18.08%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. sell-side analysts predict that QUALCOMM will post 3.07 EPS for the current fiscal year.
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In other news, EVP Matthew S. Grob sold 20,000 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Michelle M. Sterling sold 7,840 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,937 shares of company stock worth $1,787,969. Corporate insiders own 0.17% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Schnieders Capital Management LLC acquired a new position in QUALCOMM in the 1st quarter worth approximately $226,000. Cincinnati Financial Corp increased its holdings in QUALCOMM by 13.7% in the 1st quarter. Cincinnati Financial Corp now owns 912,500 shares of the wireless technology company’s stock worth $52,323,000 after buying an additional 110,000 shares during the period. Asset Planning Services Inc. LA ADV increased its holdings in QUALCOMM by 4.2% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 49,315 shares of the wireless technology company’s stock worth $2,828,000 after buying an additional 1,995 shares during the period. Holderness Investments Co. acquired a new position in QUALCOMM in the 1st quarter worth approximately $548,000. Finally, State of Wisconsin Investment Board increased its holdings in QUALCOMM by 1.5% in the 1st quarter. State of Wisconsin Investment Board now owns 1,397,184 shares of the wireless technology company’s stock worth $80,115,000 after buying an additional 20,538 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.
QUALCOMM Company Profile
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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