Edward Jones Upgrades QUALCOMM (NASDAQ:QCOM) to “Hold”

QUALCOMM (NASDAQ:QCOM) was upgraded by equities researchers at Edward Jones from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, MarketBeat.com reports.

A number of other equities analysts also recently commented on the stock. BidaskClub downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Zacks Investment Research raised shares of QUALCOMM from a “sell” rating to a “hold” rating and set a $90.00 price objective for the company in a report on Friday, June 12th. Cowen raised their price objective on shares of QUALCOMM from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday. Charter Equity reaffirmed a “hold” rating on shares of QUALCOMM in a report on Thursday, April 30th. Finally, UBS Group lifted their price target on shares of QUALCOMM from $70.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $106.36.

NASDAQ QCOM traded down $1.58 during midday trading on Friday, hitting $105.61. The company had a trading volume of 16,770,274 shares, compared to its average volume of 8,403,357. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 4.67. The stock has a market cap of $119.16 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 1.95 and a beta of 1.34. The firm has a fifty day simple moving average of $90.67 and a two-hundred day simple moving average of $82.54. QUALCOMM has a fifty-two week low of $58.00 and a fifty-two week high of $107.75.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 29th. The wireless technology company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.80 billion. QUALCOMM had a net margin of 13.72% and a return on equity of 78.39%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. As a group, equities analysts predict that QUALCOMM will post 3.08 earnings per share for the current year.

In related news, CAO Erin L. Polek sold 1,646 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.47, for a total transaction of $130,807.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,925 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $102.42, for a total transaction of $401,998.50. Following the transaction, the chief financial officer now owns 17,790 shares of the company’s stock, valued at approximately $1,822,051.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,740 shares of company stock valued at $22,024,427. 0.12% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC grew its holdings in QUALCOMM by 3.4% during the second quarter. Flagship Harbor Advisors LLC now owns 3,380 shares of the wireless technology company’s stock valued at $308,000 after purchasing an additional 110 shares during the period. Beacon Financial Advisory LLC grew its stake in QUALCOMM by 1.8% during the second quarter. Beacon Financial Advisory LLC now owns 6,395 shares of the wireless technology company’s stock worth $583,000 after buying an additional 116 shares in the last quarter. Nadler Financial Group Inc. grew its stake in QUALCOMM by 3.8% during the second quarter. Nadler Financial Group Inc. now owns 3,237 shares of the wireless technology company’s stock worth $295,000 after buying an additional 118 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in QUALCOMM by 1.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,508 shares of the wireless technology company’s stock worth $508,000 after buying an additional 125 shares in the last quarter. Finally, Country Club Trust Company n.a. grew its stake in QUALCOMM by 2.9% during the second quarter. Country Club Trust Company n.a. now owns 4,411 shares of the wireless technology company’s stock worth $393,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 74.50% of the company’s stock.

QUALCOMM Company Profile

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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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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