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

QUALCOMM (NASDAQ:QCOM) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

QCOM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft increased their price target on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research note on Friday, August 2nd. Citigroup raised their price target on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a report on Thursday, August 1st. Finally, Tigress Financial increased their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Trading Up 1.3 %

NASDAQ QCOM opened at $165.33 on Tuesday. The stock has a market capitalization of $184.18 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.93 and a beta of 1.28. QUALCOMM has a 52 week low of $104.33 and a 52 week high of $230.63. The stock’s 50 day moving average price is $181.40 and its two-hundred day moving average price is $181.43. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. As a group, analysts anticipate that QUALCOMM will post 7.98 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,496,590 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Creekside Partners purchased a new position in shares of QUALCOMM during the 2nd quarter valued at about $320,000. NCP Inc. raised its position in QUALCOMM by 50.5% in the 2nd quarter. NCP Inc. now owns 301 shares of the wireless technology company’s stock worth $60,000 after purchasing an additional 101 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new stake in QUALCOMM during the second quarter valued at about $129,000. Strategic Investment Solutions Inc. IL bought a new position in shares of QUALCOMM during the second quarter valued at about $109,000. Finally, Clearbridge Investments LLC lifted its stake in shares of QUALCOMM by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 221,308 shares of the wireless technology company’s stock valued at $44,080,000 after acquiring an additional 1,036 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

About QUALCOMM

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.