QUALCOMM (NASDAQ:QCOM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday, BidAskClub reports.

Several other research firms have also recently issued reports on QCOM. Evercore ISI upgraded QUALCOMM from an “in-line” rating to an “outperform” rating in a report on Wednesday, April 17th. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, May 23rd. Barclays reiterated a “hold” rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. Cowen lowered their price objective on Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Finally, Mizuho cut QUALCOMM from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $90.00 to $65.00 in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $79.79.

Shares of QUALCOMM stock opened at $74.90 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. QUALCOMM has a twelve month low of $49.10 and a twelve month high of $90.34. The company has a 50-day simple moving average of $71.41. The stock has a market cap of $91.06 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.79 and a beta of 1.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the previous year, the firm posted $0.80 EPS. QUALCOMM’s revenue was down 5.9% compared to the same quarter last year. Sell-side analysts anticipate that QUALCOMM will post 3.3 earnings per share for the current fiscal year.

In other news, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the insider now directly owns 848,877 shares in the company, valued at approximately $29,031,593.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 949,832 shares of company stock worth $37,443,538. Insiders own 0.11% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. HL Financial Services LLC raised its position in QUALCOMM by 0.6% in the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock valued at $1,162,000 after purchasing an additional 128 shares during the period. Harrington Investments INC raised its position in QUALCOMM by 1.1% in the first quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock valued at $784,000 after purchasing an additional 150 shares during the period. Evolution Wealth Advisors LLC raised its position in QUALCOMM by 4.6% in the first quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock valued at $201,000 after purchasing an additional 154 shares during the period. Atlas Brown Inc. raised its position in QUALCOMM by 3.5% in the first quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock valued at $303,000 after purchasing an additional 179 shares during the period. Finally, Berman Capital Advisors LLC raised its position in QUALCOMM by 18.3% in the first quarter. Berman Capital Advisors LLC now owns 1,166 shares of the wireless technology company’s stock valued at $65,000 after purchasing an additional 180 shares during the period. 76.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Diversification Important in Investing

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.