StockNews.com Downgrades QUALCOMM (NASDAQ:QCOM) to Buy

QUALCOMM (NASDAQ:QCOM) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other research firms also recently issued reports on QCOM. Barclays upped their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Bank of America raised their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. HSBC increased their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, Rosenblatt Securities lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Trading Down 0.9 %

QCOM opened at $180.15 on Wednesday. QUALCOMM has a 1-year low of $101.47 and a 1-year high of $184.31. The stock has a market capitalization of $201.05 billion, a PE ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $168.62 and a two-hundred day moving average price of $148.09.

Insider Buying and Selling at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock valued at $7,796,128 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. increased its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the 1st quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. increased its stake in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $32,000. Finally, Cherry Tree Wealth Management LLC lifted its stake in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry 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 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.