The stock of QUALCOMM, Inc. (NASDAQ:QCOM) hit a new 52-week high and has $94.02 target or 37.00% above today’s $68.63 share price. The 5 months bullish chart indicates low risk for the $107.51 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $94.02 price target is reached, the company will be worth $39.78 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 22.85 million shares traded hands or 174.64% up from the average. QUALCOMM, Inc. (NASDAQ:QCOM) has risen 30.67% since February 26, 2016 and is uptrending. It has outperformed by 20.24% the S&P500.
Analysts await QUALCOMM, Inc. (NASDAQ:QCOM) to report earnings on November, 2 after the close. They expect $0.99 earnings per share, up 25.32% or $0.20 from last year’s $0.79 per share. QCOM’s profit will be $1.55B for 17.34 P/E if the $0.99 EPS becomes a reality. After $1.03 actual earnings per share reported by QUALCOMM, Inc. for the previous quarter, Wall Street now forecasts -3.88% negative EPS growth.
QUALCOMM, Inc. (NASDAQ:QCOM) Ratings Coverage
Out of 27 analysts covering Qualcomm Inc. (NASDAQ:QCOM), 17 rate it a “Buy”, 1 “Sell”, while 9 “Hold”. This means 63% are positive. Qualcomm Inc. has been the topic of 59 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, August 24 by Standpoint Research. The stock of QUALCOMM, Inc. (NASDAQ:QCOM) has “Neutral” rating given on Friday, February 12 by Mizuho. The company was maintained on Thursday, November 19 by Stifel Nicolaus. The firm earned “Positive” rating on Wednesday, January 13 by Susquehanna. The firm has “Neutral” rating given on Thursday, July 21 by Mizuho. On Wednesday, December 16 the stock rating was maintained by Topeka Capital Markets with “Hold”. The firm has “Buy” rating by Goldman Sachs given on Thursday, July 21. The stock has “Outperform” rating given by Cowen & Co on Thursday, July 23. The rating was maintained by Cowen & Co with “Outperform” on Friday, September 30. The firm has “Overweight” rating given on Friday, December 4 by Pacific Crest.
According to Zacks Investment Research, “QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company’s CDMA digital technology. The company’s business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress. (Company Press Release)”
Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.20, from 1.16 in 2016Q1. The ratio fall, as 70 funds sold all QUALCOMM, Inc. shares owned while 519 reduced positions. 104 funds bought stakes while 461 increased positions. They now own 1.10 billion shares or 0.47% less from 1.11 billion shares in 2016Q1.
Moreover, First Tru Advisors L P has 0.32% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 1.92 million shares. Moreover, Baldwin Brothers Ma has 0.01% invested in QUALCOMM, Inc. (NASDAQ:QCOM) for 750 shares. Sigma Planning Corporation has 0.09% invested in the company for 12,306 shares. Ep Wealth Advisors, a California-based fund reported 148,202 shares. Thompson Siegel & Walmsley Ltd Llc accumulated 306,835 shares or 0.26% of the stock. Lpl Ltd Liability Corp holds 0.01% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 22,568 shares. M&T Commercial Bank Corp accumulated 0.37% or 1.03 million shares. Roundview Capital Ltd Liability Company has 10,950 shares for 0.22% of their US portfolio. Contrarius Inv Management Limited accumulated 225,359 shares or 1.03% of the stock. Meritage Grp L P holds 2.31% of its portfolio in QUALCOMM, Inc. (NASDAQ:QCOM) for 1.66 million shares. Aston Asset Mgmt Limited Liability Company accumulated 19,439 shares or 0.63% of the stock. Dubuque Bank Trust reported 4,848 shares or 0.05% of all its holdings. The New York-based Wellington Shields Mngmt Limited Liability has invested 0.07% in QUALCOMM, Inc. (NASDAQ:QCOM). The California-based Eqis Cap has invested 0.29% in QUALCOMM, Inc. (NASDAQ:QCOM). Ledyard Retail Bank last reported 0.2% of its portfolio in the stock.
Insider Transactions: Since April 13, 2016, the stock had 0 insider buys, and 14 selling transactions for $13.68 million net activity. ABERLE DEREK K had sold 22,653 shares worth $1.40M on Wednesday, July 27. Shares for $1.81M were sold by THOMPSON JAMES H. The insider GROB MATTHEW S sold 33,000 shares worth $1.98 million. Rosenberg Donald J sold $503,993 worth of QUALCOMM, Inc. (NASDAQ:QCOM) on Thursday, August 4. AMON CRISTIANO R also sold $354,751 worth of QUALCOMM, Inc. (NASDAQ:QCOM) shares. DITTAMORE RAYMOND V had sold 7,000 shares worth $427,000.
More notable recent QUALCOMM, Inc. (NASDAQ:QCOM) news were published by: Wsj.com which released: “Qualcomm Eyes Dutch Chip Company NXP for Its Auto Expertise” on September 29, 2016, also Schaeffersresearch.com with their article: “Analyst Upgrades: Amazon.com, Inc., Costco Wholesale Corporation, and QUALCOMM …” published on September 30, 2016, Fool.com published: “Better Buy: Qualcomm Inc. vs. Intel” on September 22, 2016. More interesting news about QUALCOMM, Inc. (NASDAQ:QCOM) were released by: Fool.com and their article: “The 4 Biggest Challenges Facing Qualcomm Inc.” published on September 06, 2016 as well as Fool.com‘s news article titled: “Will MediaTek Challenge Qualcomm, Inc. in Premium Smartphones?” with publication date: September 02, 2016.
QCOM Company Profile
QUALCOMM Incorporated, incorporated on August 15, 1991, is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Firm 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) standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications. The Company’s divisions include QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The Firm also develops and commercializes a range of other technologies used in handsets and tablets that contribute to end user demand, such as certain audio and video codecs, the wireless local area networks (WLAN) 802.11 functionality and volatile and non-volatile memory controllers. Other technologies used by wireless devices that it has developed include operating systems, user interfaces, graphics and camera processing functionality, integrated circuit packaging techniques, sensors and sensor fusion algorithms and application processor architectures.
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