BidaskClub downgraded shares of QUALCOMM (NASDAQ:QCOM) from a sell rating to a strong sell rating in a research report sent to investors on Thursday.

A number of other research analysts have also weighed in on QCOM. Deutsche Bank assumed coverage on QUALCOMM in a research note on Thursday, March 15th. They set a hold rating and a $60.00 price target on the stock. Wells Fargo assumed coverage on QUALCOMM in a research note on Friday, March 16th. They set a market perform rating on the stock. Vetr raised QUALCOMM from a hold rating to a buy rating and set a $74.63 price target on the stock in a research note on Friday, January 26th. Mizuho reissued a buy rating and set a $75.00 price target (up previously from $65.00) on shares of QUALCOMM in a research note on Wednesday, January 17th. Finally, Northland Securities reissued a buy rating and set a $75.00 price target on shares of QUALCOMM in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $68.05.

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QUALCOMM stock traded down $0.61 during mid-day trading on Thursday, reaching $54.97. The company had a trading volume of 4,998,545 shares, compared to its average volume of 13,225,780. QUALCOMM has a 12-month low of $48.92 and a 12-month high of $69.28. The company has a current ratio of 3.41, a quick ratio of 3.25 and a debt-to-equity ratio of 0.81. The stock has a market cap of $84,099.43, a price-to-earnings ratio of -19.35, a P/E/G ratio of 1.77 and a beta of 1.35.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. QUALCOMM had a positive return on equity of 18.10% and a negative net margin of 18.65%. The company had revenue of $6.10 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. analysts anticipate that QUALCOMM will post 2.8 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Investors of record on Wednesday, February 28th were issued a $0.57 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.28 annualized dividend and a yield of 4.15%. QUALCOMM’s dividend payout ratio is currently -80.28%.

In related news, EVP Alexander H. Rogers sold 919 shares of the stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $64.32, for a total value of $59,110.08. Following the completion of the sale, the executive vice president now directly owns 11,116 shares in the company, valued at approximately $714,981.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew S. Grob sold 43,000 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $65.35, for a total value of $2,810,050.00. Following the completion of the sale, the executive vice president now owns 43,000 shares of the company’s stock, valued at $2,810,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,938 shares of company stock valued at $6,137,671. 0.17% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Truewealth LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $102,000. We Are One Seven LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $119,000. Gradient Investments LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $120,000. Cerebellum GP LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $126,000. Finally, Westwood Holdings Group Inc. bought a new position in shares of QUALCOMM during the second quarter worth about $114,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.

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QUALCOMM Company Profile

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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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