QUALCOMM (NASDAQ:QCOM) Rating Lowered to Buy at StockNews.com

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

Several other research firms have also recently weighed in on QCOM. Morgan Stanley lifted their target price on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Wolfe Research upped their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Evercore ISI started coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. Finally, Rosenblatt Securities increased their price objective on 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 assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.48.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $180.54 on Wednesday. The stock has a market cap of $201.48 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. QUALCOMM has a 12 month low of $101.47 and a 12 month high of $184.31. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $169.12 and a 200-day simple moving average of $148.31.

Insider Buying and Selling at QUALCOMM

In related news, Director Sylvia Acevedo sold 2,056 shares of the business’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 owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock worth $7,796,128 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several large investors have recently added to or reduced their stakes in QCOM. J.Safra Asset Management Corp lifted its holdings in shares of QUALCOMM by 871.9% during the 1st quarter. J.Safra Asset Management Corp now owns 311 shares of the wireless technology company’s stock worth $53,000 after acquiring an additional 279 shares during the period. Sentry Investment Management LLC raised its position in QUALCOMM by 27.1% in the first quarter. Sentry Investment Management LLC now owns 6,218 shares of the wireless technology company’s stock worth $1,053,000 after purchasing an additional 1,325 shares in the last quarter. 1ST Source Bank lifted its stake in QUALCOMM by 0.4% during the first quarter. 1ST Source Bank now owns 24,464 shares of the wireless technology company’s stock worth $4,142,000 after purchasing an additional 100 shares during the period. Cumberland Partners Ltd acquired a new stake in QUALCOMM during the first quarter valued at approximately $1,100,000. Finally, ProVise Management Group LLC grew its stake in shares of QUALCOMM by 6.7% in the 1st quarter. ProVise Management Group LLC now owns 1,911 shares of the wireless technology company’s stock valued at $324,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds 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.