Qualcomm (NASDAQ:QCOM) Stock Rating Upgraded by Zacks Research

Qualcomm (NASDAQ:QCOM) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

A number of other equities research analysts have also recently commented on QCOM. JPMorgan Chase & Co. reduced their target price on shares of Qualcomm from $215.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, November 5th. Freedom Broker cut Qualcomm from a “buy” rating to a “hold” rating and cut their price objective for the stock from $200.00 to $185.00 in a research report on Monday. Freedom Capital upgraded Qualcomm from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Cantor Fitzgerald reduced their price objective on Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Finally, Citigroup decreased their price target on Qualcomm from $198.00 to $175.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Qualcomm has a consensus rating of “Hold” and a consensus price target of $197.13.

Qualcomm Price Performance

Shares of NASDAQ QCOM opened at $177.14 on Wednesday. The firm has a market capitalization of $189.54 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.07 and a beta of 1.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.86. Qualcomm has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The stock’s 50-day simple moving average is $178.65 and its 200-day simple moving average is $169.90.

Qualcomm (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.01. The firm had revenue of $10.44 billion for the quarter, compared to the consensus estimate of $10.12 billion. Qualcomm had a net margin of 31.60% and a return on equity of 30.62%. The company’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $3.00 EPS. As a group, equities research analysts forecast that Qualcomm will post 6.75 EPS for the current fiscal year.

Insider Buying and Selling at Qualcomm

In other Qualcomm news, EVP Heather Ace sold 3,200 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $165.42, for a total transaction of $529,344.00. Following the transaction, the executive vice president directly owned 39,379 shares in the company, valued at $6,514,074.18. This represents a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ann Chaplin sold 1,501 shares of Qualcomm stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $161.54, for a total value of $242,471.54. Following the completion of the transaction, the executive vice president owned 27,271 shares of the company’s stock, valued at approximately $4,405,357.34. The trade was a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 32,520 shares of company stock valued at $6,101,411. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. ABS Investment Management LLC bought a new stake in shares of Qualcomm in the 2nd quarter worth $34,000. ABS Direct Equity Fund LLC acquired a new stake in Qualcomm during the second quarter valued at $34,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Qualcomm during the 3rd quarter valued at about $35,000. Team Financial Group LLC bought a new stake in Qualcomm in the third quarter worth approximately $38,000. Finally, Burk Holdings LLC increased its position in Qualcomm by 191.7% during the second quarter. Burk Holdings LLC now owns 210 shares of the wireless technology company’s stock worth $39,000 after buying an additional 138 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Qualcomm News Summary

Investors following QCOM have been watching these news items:

• Positive Sentiment: CEO Cristiano Amon defended Qualcomm’s data-center opportunity, expressing confidence in targets of $5 billion in fiscal 2027 sales and $15 billion by fiscal 2029. If achieved, the business could diversify revenue beyond smartphones. Qualcomm CEO on data-center goal
• Positive Sentiment: Qualcomm’s 5G partnership with SpaceX could create a new opportunity in network equipment. Amon called it a partnership that could drive innovation, though its commercial impact is not yet clear. Qualcomm CEO on SpaceX deal
• Negative Sentiment: Despite a quarterly earnings beat, reports cited handset weakness and uncertainty around data-center growth in explaining a sharp recent selloff. Investors are also weighing customer concentration, investment needs and potential margin pressure as Qualcomm ramps its data-center business. Qualcomm selloff and uncertainty

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.