Analysts at Daiwa Capital Markets began coverage on shares of QUALCOMM (NASDAQ:QCOM) in a report issued on Thursday, The Fly reports. The firm set a “neutral” rating on the wireless technology company’s stock.
Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Barclays set a €81.00 ($94.19) price objective on shares of Fresenius Medical Care AG & Co. KGaA and gave the stock a “buy” rating in a research note on Thursday. Citigroup downgraded shares of BCE from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein set a $60.00 price objective on shares of QUALCOMM and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, Macquarie set a $90.00 price target on shares of QUALCOMM and gave the company a “buy” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. QUALCOMM presently has an average rating of “Buy” and an average target price of $79.23.
Shares of NASDAQ QCOM opened at $75.00 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. The company has a market capitalization of $91.18 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.81 and a beta of 1.63. QUALCOMM has a 1 year low of $49.10 and a 1 year high of $90.34. The stock has a 50-day moving average price of $72.70.
In related news, major shareholder Inc/De Qualcomm sold 848,877 shares of QUALCOMM stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $34.20, for a total transaction of $29,031,593.40. Following the transaction, the insider now directly owns 848,877 shares of the company’s stock, valued at $29,031,593.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Clark T. Jr. Randt sold 2,000 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 936,366 shares of company stock worth $36,635,578. 0.11% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Weaver Consulting Group purchased a new position in QUALCOMM in the first quarter worth $25,000. Farmers National Bank purchased a new position in QUALCOMM in the first quarter worth $26,000. Meridian Wealth Management LLC purchased a new position in QUALCOMM in the first quarter worth $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in QUALCOMM in the first quarter worth $29,000. Finally, Field & Main Bank purchased a new position in QUALCOMM in the first quarter worth $32,000. 76.27% of the stock is currently owned by institutional investors.
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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