QUALCOMM (QCOM) Upgraded at Nomura

QUALCOMM (NASDAQ:QCOM) was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $75.00 price target on the wireless technology company’s stock. Nomura’s price target would indicate a potential upside of 14.71% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Vetr upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating and set a $76.13 price objective on the stock in a report on Tuesday, January 2nd. BidaskClub lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. ValuEngine upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Stifel Nicolaus lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, November 28th. Finally, Royal Bank of Canada raised their price objective on shares of QUALCOMM from $70.00 to $77.00 and gave the stock an “outperform” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.26.

Shares of QUALCOMM (QCOM) traded down $0.05 during trading hours on Tuesday, hitting $65.38. 5,007,100 shares of the company were exchanged, compared to its average volume of 5,707,111. QUALCOMM has a fifty-two week low of $48.92 and a fifty-two week high of $69.28. The company has a current ratio of 4.00, a quick ratio of 3.81 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $99,630.00, a price-to-earnings ratio of 39.62, a price-to-earnings-growth ratio of 1.85 and a beta of 1.39.

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

In other news, EVP Michelle M. Sterling sold 7,840 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $66.56, for a total transaction of $521,830.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 874 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $68.52, for a total transaction of $59,886.48. Following the transaction, the executive vice president now owns 12,035 shares in the company, valued at $824,638.20. The disclosure for this sale can be found here. Insiders have sold a total of 72,989 shares of company stock worth $4,678,794 over the last 90 days. 0.24% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Westwood Holdings Group Inc. bought a new stake in shares of QUALCOMM during the 2nd quarter worth about $114,000. Krilogy Financial LLC boosted its holdings in shares of QUALCOMM by 47.0% during the 2nd quarter. Krilogy Financial LLC now owns 2,331 shares of the wireless technology company’s stock worth $129,000 after buying an additional 745 shares during the period. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of QUALCOMM during the 2nd quarter worth about $141,000. Jacobi Capital Management LLC boosted its holdings in shares of QUALCOMM by 7.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,767 shares of the wireless technology company’s stock worth $154,000 after buying an additional 200 shares during the period. Finally, Penserra Capital Management LLC boosted its holdings in shares of QUALCOMM by 40.7% during the 2nd quarter. Penserra Capital Management LLC now owns 2,912 shares of the wireless technology company’s stock worth $160,000 after buying an additional 842 shares during the period. 76.23% of the stock is owned by institutional investors and hedge funds.

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About QUALCOMM

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.

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