A number of other research firms also recently issued reports on QCOM. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Cowen restated a “buy” rating and issued a $100.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Morgan Stanley cut shares of QUALCOMM from an “overweight” rating to an “equal” rating and increased their price objective for the stock from $89.00 to $90.00 in a research report on Monday, November 11th. They noted that the move was a valuation call. DZ Bank upgraded shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $92.00 target price for the company in a report on Friday, November 8th. Finally, Mizuho raised QUALCOMM from a “neutral” rating to a “buy” rating and boosted their target price for the company from $80.00 to $100.00 in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Hold” and a consensus price target of $85.60.
NASDAQ QCOM opened at $82.08 on Tuesday. The stock has a fifty day simple moving average of $84.18 and a 200-day simple moving average of $76.61. The company has a current ratio of 1.88, a quick ratio of 1.72 and a debt-to-equity ratio of 2.74. The stock has a market cap of $93.72 billion, a PE ratio of 28.90, a P/E/G ratio of 1.72 and a beta of 1.61. QUALCOMM has a twelve month low of $49.10 and a twelve month high of $94.11.
QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.07. QUALCOMM had a net margin of 18.07% and a return on equity of 77.78%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period in the previous year, the firm earned $0.90 EPS. QUALCOMM’s revenue was down 17.2% on a year-over-year basis. Research analysts predict that QUALCOMM will post 3.48 EPS for the current year.
In related news, EVP Alexander H. Rogers sold 15,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $85.07, for a total transaction of $1,276,050.00. Following the completion of the transaction, the executive vice president now directly owns 22,832 shares of the company’s stock, valued at approximately $1,942,318.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cristiano R. Amon sold 19,045 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $85.18, for a total value of $1,622,253.10. Following the transaction, the president now directly owns 58,780 shares of the company’s stock, valued at $5,006,880.40. The disclosure for this sale can be found here. Insiders have sold 56,244 shares of company stock worth $4,637,429 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in QUALCOMM by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 99,900,654 shares of the wireless technology company’s stock worth $7,599,444,000 after acquiring an additional 2,296,163 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 49.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 35,136,722 shares of the wireless technology company’s stock worth $2,672,850,000 after purchasing an additional 11,686,131 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 25,383,855 shares of the wireless technology company’s stock worth $1,930,950,000 after purchasing an additional 2,035,743 shares in the last quarter. Primecap Management Co. CA increased its holdings in QUALCOMM by 0.3% in the second quarter. Primecap Management Co. CA now owns 24,716,715 shares of the wireless technology company’s stock valued at $1,880,201,000 after buying an additional 83,270 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in QUALCOMM by 1.9% in the second quarter. Northern Trust Corp now owns 15,783,756 shares of the wireless technology company’s stock valued at $1,200,669,000 after buying an additional 301,087 shares during the last quarter. 77.39% of the stock is currently owned by institutional investors.
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.
Recommended Story: What Does a Sell-Side Analyst Rating Mean?
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.