QUALCOMM (QCOM) Now Covered by Citigroup

Citigroup assumed coverage on shares of QUALCOMM (NASDAQ:QCOM) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $58.00 target price on the wireless technology company’s stock.

A number of other brokerages also recently issued reports on QCOM. ValuEngine downgraded QUALCOMM from a buy rating to a hold rating in a research report on Tuesday, January 16th. Nomura upgraded QUALCOMM from a neutral rating to a buy rating and raised their price target for the stock from $58.00 to $75.00 in a research report on Tuesday, January 16th. Vetr downgraded QUALCOMM from a strong-buy rating to a buy rating and set a $76.42 price target for the company. in a research report on Thursday, February 1st. UBS initiated coverage on QUALCOMM in a research report on Thursday, April 5th. They issued a neutral rating and a $56.00 price target for the company. Finally, Wells Fargo initiated coverage on QUALCOMM in a research report on Friday, March 16th. They issued a market perform rating for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. QUALCOMM currently has a consensus rating of Hold and an average price target of $67.82.

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NASDAQ QCOM opened at $55.73 on Thursday. The company has a quick ratio of 3.25, a current ratio of 3.41 and a debt-to-equity ratio of 0.81. The company has a market cap of $81,716.04, a PE ratio of 14.74, a PEG ratio of 1.72 and a beta of 1.44. QUALCOMM has a one year low of $48.92 and a one year high of $69.28.

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

In other news, EVP James H. Thompson sold 50,126 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $62.66, for a total transaction of $3,140,895.16. Following the transaction, the executive vice president now owns 136,482 shares in the company, valued at $8,551,962.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alexander H. Rogers sold 713 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $68.20, for a total value of $48,626.60. Following the transaction, the executive vice president now owns 10,403 shares in the company, valued at approximately $709,484.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,682 shares of company stock worth $3,306,030. Insiders own 0.17% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Green Square Capital LLC increased its stake in shares of QUALCOMM by 45.5% during the fourth quarter. Green Square Capital LLC now owns 148,180 shares of the wireless technology company’s stock valued at $9,486,000 after buying an additional 46,306 shares during the period. D.B. Root & Company LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $659,000. Rehmann Capital Advisory Group increased its stake in shares of QUALCOMM by 8.7% during the fourth quarter. Rehmann Capital Advisory Group now owns 14,559 shares of the wireless technology company’s stock valued at $932,000 after buying an additional 1,167 shares during the period. Albion Financial Group UT increased its stake in shares of QUALCOMM by 4.4% during the fourth quarter. Albion Financial Group UT now owns 46,627 shares of the wireless technology company’s stock valued at $2,985,000 after buying an additional 1,952 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in shares of QUALCOMM by 8.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 266,902 shares of the wireless technology company’s stock valued at $17,087,000 after buying an additional 21,174 shares during the period. Hedge funds and other institutional investors own 78.00% of the company’s stock.

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About QUALCOMM

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.

Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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