QUALCOMM Incorporated (QCOM) Lowered to Hold at Vetr Inc.

QUALCOMM Incorporated (NASDAQ:QCOM) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, November 6th. They presently have a $62.71 price target on the wireless technology company’s stock. Vetr‘s target price would suggest a potential downside of 9.00% from the stock’s previous close.

A number of other brokerages have also weighed in on QCOM. Canaccord Genuity raised their target price on QUALCOMM from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. ValuEngine lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded QUALCOMM from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $54.00 target price on shares of QUALCOMM in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $65.42.

QUALCOMM (NASDAQ:QCOM) traded up $0.78 during trading on Monday, reaching $68.91. The company’s stock had a trading volume of 9,230,000 shares, compared to its average volume of 16,300,000. The company has a quick ratio of 3.81, a current ratio of 4.00 and a debt-to-equity ratio of 0.63. QUALCOMM has a 1 year low of $48.92 and a 1 year high of $70.24. The firm has a market capitalization of $102,750.00, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.91 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 1st. The wireless technology company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.22. QUALCOMM had a return on equity of 18.08% and a net margin of 11.06%. The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.80 billion. During the same period last year, the company posted $1.28 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. sell-side analysts forecast that QUALCOMM will post 3.07 EPS for the current fiscal year.

In other QUALCOMM news, EVP Matthew S. Grob sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $60.44, for a total value of $1,208,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total value of $521,830.40. The disclosure for this sale can be found here. Insiders have sold a total of 28,937 shares of company stock worth $1,787,969 in the last quarter. 0.17% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QCOM. Pinnacle Financial Partners Inc. increased its position in shares of QUALCOMM by 4.5% during the 1st quarter. Pinnacle Financial Partners Inc. now owns 88,471 shares of the wireless technology company’s stock worth $5,073,000 after purchasing an additional 3,807 shares during the last quarter. Maple Capital Management Inc. increased its position in shares of QUALCOMM by 8.4% during the 1st quarter. Maple Capital Management Inc. now owns 89,257 shares of the wireless technology company’s stock worth $5,118,000 after purchasing an additional 6,890 shares during the last quarter. Elkfork Partners LLC increased its position in shares of QUALCOMM by 24.2% during the 1st quarter. Elkfork Partners LLC now owns 152,558 shares of the wireless technology company’s stock worth $8,748,000 after purchasing an additional 29,750 shares during the last quarter. Point View Wealth Management Inc. increased its position in shares of QUALCOMM by 31.7% during the 1st quarter. Point View Wealth Management Inc. now owns 18,736 shares of the wireless technology company’s stock worth $1,074,000 after purchasing an additional 4,511 shares during the last quarter. Finally, Horan Capital Advisors LLC. increased its position in shares of QUALCOMM by 4.7% during the 1st quarter. Horan Capital Advisors LLC. now owns 54,877 shares of the wireless technology company’s stock worth $3,147,000 after purchasing an additional 2,440 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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