QUALCOMM (NASDAQ:QCOM) Stock Rating Lowered by ValuEngine

QUALCOMM (NASDAQ:QCOM) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Tuesday, ValuEngine reports.

Several other brokerages also recently commented on QCOM. Royal Bank of Canada upped their price target on shares of QUALCOMM to $88.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Mizuho reiterated a “buy” rating and set a $100.00 price target on shares of QUALCOMM in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “buy” rating and set a $95.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Cowen upped their price target on shares of QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Susquehanna Bancshares upped their price target on shares of QUALCOMM from $102.00 to $105.00 and gave the company a “positive” rating in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Buy” and a consensus price target of $94.38.

Shares of NASDAQ:QCOM opened at $90.56 on Tuesday. The company has a market capitalization of $102.42 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.25 and a beta of 1.56. QUALCOMM has a 12 month low of $51.90 and a 12 month high of $96.17. The firm’s 50-day moving average is $89.61 and its 200 day moving average is $82.69. The company has a current ratio of 1.76, a quick ratio of 1.61 and a debt-to-equity ratio of 2.98.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.85 by $0.14. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.86 billion. QUALCOMM had a net margin of 17.31% and a return on equity of 66.54%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS. As a group, equities analysts forecast that QUALCOMM will post 3.68 EPS for the current fiscal year.

In other news, President Cristiano R. Amon sold 33,932 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $84.87, for a total value of $2,879,808.84. Following the completion of the sale, the president now owns 66,718 shares of the company’s stock, valued at approximately $5,662,356.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Cristiano R. Amon sold 19,045 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $85.18, for a total transaction of $1,622,253.10. Following the completion of the sale, the president now directly owns 58,780 shares of the company’s stock, valued at approximately $5,006,880.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,268 shares of company stock valued at $7,803,600. 0.12% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in shares of QUALCOMM by 2.6% in the 4th quarter. FMR LLC now owns 56,173,678 shares of the wireless technology company’s stock worth $4,956,204,000 after purchasing an additional 1,433,849 shares during the period. Alliancebernstein L.P. lifted its position in shares of QUALCOMM by 110.4% in the 4th quarter. Alliancebernstein L.P. now owns 5,969,697 shares of the wireless technology company’s stock worth $526,706,000 after purchasing an additional 3,132,675 shares during the period. Renaissance Technologies LLC lifted its position in shares of QUALCOMM by 346.1% in the 4th quarter. Renaissance Technologies LLC now owns 5,756,507 shares of the wireless technology company’s stock worth $507,897,000 after purchasing an additional 4,466,107 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of QUALCOMM by 0.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 4,750,098 shares of the wireless technology company’s stock worth $419,101,000 after purchasing an additional 16,379 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of QUALCOMM by 2.5% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,711,006 shares of the wireless technology company’s stock worth $415,652,000 after purchasing an additional 113,056 shares during the period. 77.19% of the stock is owned by hedge funds and other institutional investors.

About QUALCOMM

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.

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