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

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

QCOM has been the subject of several other reports. Wells Fargo & Company lifted their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group boosted their price target on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Benchmark restated a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Trading Down 0.9 %

QCOM opened at $180.15 on Wednesday. The stock has a market cap of $201.05 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM has a twelve month low of $101.47 and a twelve month high of $184.31. The company has a fifty day moving average of $168.62 and a 200-day moving average of $148.09.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 46,316 shares of company stock worth $7,796,128 over the last quarter. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peoples Bank OH bought a new stake in QUALCOMM in the 4th quarter valued at about $219,000. HF Advisory Group LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $629,000. Bank Hapoalim BM boosted its holdings in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the period. NewEdge Wealth LLC grew its stake in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. raised its holdings in QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Company Profile

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.