KeyCorp Lowers QUALCOMM (NASDAQ:QCOM) to Sector Weight

KeyCorp cut shares of QUALCOMM (NASDAQ:QCOM) from an overweight rating to a sector weight rating in a research note published on Tuesday, Marketbeat Ratings reports.

A number of other equities analysts have also recently issued reports on QCOM. Barclays increased their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an overweight rating in a report on Thursday, August 1st. Westpark Capital reiterated a hold rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Wolfe Research downgraded shares of QUALCOMM from an outperform rating to a peer perform rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the stock a hold rating in a research report on Thursday, August 1st. Finally, Piper Sandler restated an overweight rating and issued a $205.00 price target (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $209.38.

QUALCOMM Stock Down 1.0 %

Shares of QCOM stock opened at $168.52 on Tuesday. The stock has a market cap of $188.07 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock has a fifty day moving average price of $167.54 and a 200 day moving average price of $182.06. QUALCOMM has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Analysts predict that QUALCOMM will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares of the company’s stock, valued at approximately $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 3,245 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,245 shares of company stock valued at $3,679,407 over the last ninety days. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On QUALCOMM

Several institutional investors and hedge funds have recently made changes to their positions in QCOM. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth about $27,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the second quarter worth about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM during the 2nd quarter valued at about $32,000. Aspect Partners LLC grew its position in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 74 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

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.