QUALCOMM (NASDAQ:QCOM) Rating Lowered to Hold at Wall Street Zen

QUALCOMM (NASDAQ:QCOM) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other research analysts have also weighed in on the company. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average price target of $192.08.

QUALCOMM Trading Down 1.4%

NASDAQ QCOM opened at $145.38 on Thursday. The stock has a market capitalization of $159.63 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 2.01 and a beta of 1.29. The stock’s 50 day moving average price is $145.46 and its two-hundred day moving average price is $156.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, analysts anticipate that QUALCOMM will post 9.39 earnings per share for the current fiscal year.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock valued at $1,818,305 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of QUALCOMM

Institutional investors have recently modified their holdings of the stock. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter valued at $27,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of QUALCOMM by 122.4% during the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 93 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the 4th quarter valued at $26,000. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 70 shares during the period. 74.35% of the stock is currently owned by 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.