QUALCOMM Incorporated (NASDAQ:QCOM)‘s stock had its “market perform” rating restated by investment analysts at BMO Capital Markets in a research note issued on Thursday. They currently have a $55.00 price objective on the wireless technology company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 4.78% from the company’s previous close.
QCOM has been the subject of several other reports. Vetr upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $60.45 target price for the company in a research note on Wednesday, June 7th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $61.00 target price (down from $63.00) on shares of QUALCOMM in a research note on Thursday, May 4th. Zacks Investment Research downgraded QUALCOMM from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Sanford C. Bernstein restated a “market perform” rating on shares of QUALCOMM in a research note on Friday, May 5th. Finally, Deutsche Bank AG began coverage on QUALCOMM in a research note on Monday, June 19th. They issued a “hold” rating and a $62.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has an average rating of “Hold” and a consensus price target of $63.96.
QUALCOMM (QCOM) traded up 0.50% on Thursday, hitting $52.49. 6,198,617 shares of the stock were exchanged. The company has a market cap of $77.48 billion, a PE ratio of 20.10 and a beta of 1.29. QUALCOMM has a 52 week low of $51.05 and a 52 week high of $71.62. The company’s 50-day moving average is $53.83 and its 200-day moving average is $55.54.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 19th. The wireless technology company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. QUALCOMM had a return on equity of 19.64% and a net margin of 17.26%. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter last year, the business posted $1.16 EPS. QUALCOMM’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts predict that QUALCOMM will post $4.16 earnings per share for the current year.
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In related news, President Derek K. Aberle sold 23,104 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $55.38, for a total value of $1,279,499.52. Following the sale, the president now owns 5,855 shares in the company, valued at $324,249.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michelle M. Sterling sold 4,740 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $51.88, for a total transaction of $245,911.20. The disclosure for this sale can be found here. Insiders have sold 51,332 shares of company stock valued at $2,875,886 in the last ninety days. Insiders own 0.24% of the company’s stock.
A number of large investors have recently modified their holdings of QCOM. United Bank VA boosted its position in shares of QUALCOMM by 13.9% in the second quarter. United Bank VA now owns 64,846 shares of the wireless technology company’s stock valued at $3,581,000 after buying an additional 7,929 shares in the last quarter. Paradigm Financial Advisors LLC boosted its position in shares of QUALCOMM by 23.1% in the second quarter. Paradigm Financial Advisors LLC now owns 74,976 shares of the wireless technology company’s stock valued at $4,140,000 after buying an additional 14,056 shares in the last quarter. Farmers National Bank acquired a new position in shares of QUALCOMM during the second quarter valued at $228,000. RNC Capital Management LLC boosted its position in shares of QUALCOMM by 4.6% in the second quarter. RNC Capital Management LLC now owns 654,148 shares of the wireless technology company’s stock valued at $36,122,000 after buying an additional 28,831 shares in the last quarter. Finally, Sentry Investment Management LLC boosted its position in shares of QUALCOMM by 1.0% in the second quarter. Sentry Investment Management LLC now owns 116,708 shares of the wireless technology company’s stock valued at $6,445,000 after buying an additional 1,125 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.
QUALCOMM Company Profile
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
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