QUALCOMM (NASDAQ:QCOM) Downgraded by StockNews.com

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

Other research analysts also recently issued reports about the stock. KeyCorp restated an “overweight” rating and issued a $145.00 price target on shares of QUALCOMM in a research report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $145.00 price target on shares of QUALCOMM in a research report on Thursday. UBS Group raised their price target on shares of QUALCOMM from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, July 24th. Susquehanna cut their price objective on shares of QUALCOMM from $145.00 to $140.00 and set a “positive” rating on the stock in a research report on Thursday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and cut their price objective for the company from $130.00 to $121.00 in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.96.

QUALCOMM Stock Down 0.3 %

QCOM stock traded down $0.39 during mid-day trading on Monday, hitting $112.75. 5,064,183 shares of the company were exchanged, compared to its average volume of 8,147,874. The company has a market capitalization of $124.03 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $139.94. The firm has a fifty day simple moving average of $117.12 and a 200 day simple moving average of $116.90.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, August 2nd. The wireless technology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. QUALCOMM had a net margin of 22.33% and a return on equity of 45.94%. The company had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.51 billion. On average, research analysts forecast that QUALCOMM will post 6.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the sale, the chief technology officer now owns 241,369 shares in the company, valued at $27,330,211.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $111.27, for a total transaction of $111,270.00. Following the sale, the insider now owns 5,745 shares in the company, valued at $639,246.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 27,962 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $113.23, for a total transaction of $3,166,137.26. Following the sale, the chief technology officer now owns 241,369 shares in the company, valued at approximately $27,330,211.87. The disclosure for this sale can be found here. Insiders have sold 29,962 shares of company stock worth $3,391,567 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BSW Wealth Partners increased its stake in QUALCOMM by 4.6% in the 1st quarter. BSW Wealth Partners now owns 7,609 shares of the wireless technology company’s stock valued at $971,000 after buying an additional 335 shares during the period. Naviter Wealth LLC grew its position in QUALCOMM by 41.2% in the first quarter. Naviter Wealth LLC now owns 5,765 shares of the wireless technology company’s stock worth $735,000 after acquiring an additional 1,682 shares in the last quarter. Richard W. Paul & Associates LLC grew its position in QUALCOMM by 15.9% in the first quarter. Richard W. Paul & Associates LLC now owns 3,136 shares of the wireless technology company’s stock worth $400,000 after acquiring an additional 430 shares in the last quarter. First Affirmative Financial Network grew its position in QUALCOMM by 16.5% in the second quarter. First Affirmative Financial Network now owns 2,114 shares of the wireless technology company’s stock worth $252,000 after acquiring an additional 299 shares in the last quarter. Finally, Alight Capital Management LP bought a new stake in QUALCOMM in the fourth quarter worth approximately $880,000. Institutional investors and hedge funds own 71.10% 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, application processing, multimedia, and global positioning system products.