QUALCOMM (NASDAQ:QCOM) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday, BidAskClub reports.

QCOM has been the subject of several other research reports. Morgan Stanley set a $40.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Cfra set a $80.00 price objective on shares of QUALCOMM and gave the company a “buy” rating in a research note on Thursday, May 23rd. Bank of America set a $30.00 price objective on shares of L Brands and gave the company a “hold” rating in a research note on Thursday, May 23rd. Canaccord Genuity restated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. set a €28.20 ($32.79) price objective on shares of AXA and gave the company a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $79.79.

NASDAQ QCOM opened at $74.90 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.55 and a debt-to-equity ratio of 3.98. QUALCOMM has a 1 year low of $49.10 and a 1 year high of $90.34. The firm has a market capitalization of $91.06 billion, a P/E ratio of 22.56, a PEG ratio of 1.79 and a beta of 1.63. The company has a fifty day moving average of $71.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. QUALCOMM’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, sell-side analysts anticipate that QUALCOMM will post 3.3 earnings per share for the current year.

In other news, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $60.00, for a total transaction of $807,960.00. Following the completion of the sale, the president now owns 37,614 shares in the company, valued at $2,256,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Clark T. Jr. Randt sold 2,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $89.58, for a total transaction of $179,160.00. The disclosure for this sale can be found here. Insiders have sold 949,832 shares of company stock valued at $37,443,538 in the last quarter. Insiders own 0.11% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in QUALCOMM by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,156,306 shares of the wireless technology company’s stock worth $1,147,095,000 after purchasing an additional 96,527 shares in the last quarter. Norges Bank purchased a new position in QUALCOMM during the fourth quarter worth about $736,806,000. Clearbridge Investments LLC raised its holdings in QUALCOMM by 1.1% during the first quarter. Clearbridge Investments LLC now owns 9,379,210 shares of the wireless technology company’s stock worth $534,896,000 after purchasing an additional 99,528 shares in the last quarter. FIL Ltd raised its holdings in QUALCOMM by 179.2% during the first quarter. FIL Ltd now owns 4,770,291 shares of the wireless technology company’s stock worth $272,050,000 after purchasing an additional 3,061,598 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in QUALCOMM by 48.5% during the first quarter. OppenheimerFunds Inc. now owns 3,221,596 shares of the wireless technology company’s stock worth $183,728,000 after purchasing an additional 1,052,071 shares in the last quarter. Institutional investors and hedge funds own 76.27% of the company’s stock.

QUALCOMM Company Profile

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.

Read More: Understanding debt-to-equity ratio in fundamental analysis

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.