QUALCOMM (NASDAQ:QCOM) had its price objective decreased by research analysts at Stifel Nicolaus from $62.00 to $58.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a “hold” rating on the wireless technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 2.26% from the company’s current price.

QCOM has been the topic of a number of other reports. BidaskClub lowered QUALCOMM from a “hold” rating to a “sell” rating in a report on Thursday. Canaccord Genuity lowered their target price on QUALCOMM from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. ValuEngine cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen lifted their price target on QUALCOMM from $58.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, July 26th. Finally, Deutsche Bank lifted their price target on QUALCOMM to $60.00 and gave the stock a “hold” rating in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $70.86.

NASDAQ:QCOM traded down $1.33 during mid-day trading on Thursday, reaching $56.72. 21,741,417 shares of the stock were exchanged, compared to its average volume of 15,329,802. The firm has a market cap of $92.86 billion, a P/E ratio of 19.82, a PEG ratio of 1.96 and a beta of 1.69. QUALCOMM has a 1-year low of $48.56 and a 1-year high of $76.50. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 0.67.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.20. The firm had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. QUALCOMM had a positive return on equity of 19.92% and a negative net margin of 21.40%. QUALCOMM’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. Sell-side analysts expect that QUALCOMM will post 2.8 EPS for the current year.

QUALCOMM declared that its Board of Directors has authorized a share buyback program on Thursday, July 26th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the wireless technology company to buy up to 34.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In other QUALCOMM news, EVP Alexander H. Rogers sold 1,306 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $67.37, for a total transaction of $87,985.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Cristiano R. Amon sold 88,625 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $68.81, for a total value of $6,098,286.25. Following the sale, the president now owns 58,045 shares of the company’s stock, valued at $3,994,076.45. The disclosure for this sale can be found here. Insiders sold a total of 91,638 shares of company stock worth $6,302,079 in the last three months. 0.17% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in QCOM. Moneta Group Investment Advisors LLC boosted its position in QUALCOMM by 9,686.8% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock worth $105,000 after acquiring an additional 73,523 shares during the period. Squar Milner Financial Services LLC acquired a new stake in QUALCOMM during the 2nd quarter worth about $106,000. Sterling Investment Advisors Ltd. boosted its position in QUALCOMM by 195.0% during the 3rd quarter. Sterling Investment Advisors Ltd. now owns 1,549 shares of the wireless technology company’s stock worth $112,000 after acquiring an additional 1,024 shares during the period. Kiley Juergens Wealth Management LLC boosted its position in QUALCOMM by 1,760.0% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock worth $133,000 after acquiring an additional 1,760 shares during the period. Finally, MinichMacGregor Wealth Management LLC boosted its position in QUALCOMM by 170.9% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock worth $134,000 after acquiring an additional 1,167 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

About QUALCOMM

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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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